The cost of apartments in new Russian buildings has reached an all-time high

Analysts at the Etazhi real estate agency told Izvestia that in September, prices for apartments in new buildings rose the most in cities with a population of over a million; in some of them, the increase exceeded 3%.

At the same time, according to Sergei Zaitsev, sales director of Etazhey, prices are being corrected in smaller towns, so the cost of a square metre in new buildings in Russia as a whole has increased by only 0.1%.

Housing prices rose the most over the past month in Krasnodar (4.6%), Chelyabinsk (3.5%) and Perm (2.1%). Apartment prices on the primary market in Moscow rose by 1.2% in August.

In more than two million cities, housing prices decreased over the same period: in Ufa – by 0.7%, in Rostov-on-Don – by 0.5%.

According to analysts, part of the growth is due to the fact that Russians are buying apartments at the lowest cost per square meter.

“As a rule, the price per square meter in larger apartments is lower than in small housing, and those who improve their living conditions rarely choose small apartments with expensive square meters,” Zaitsev explained.

The increase in costs is also due to the fact that developers include the costs of tariff subsidies, marketing and take into account inflation risks.

In August, it was reported that more than a third of IT specialists are unwilling to apply for a prime mortgage due to high property prices and large down payments.

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