New buildings in Russia will rise in price by 6–7 percent by the end of the year

New buildings in Russia will rise in price by six to seven percent by the end of the year. An increase in the cost of one type of housing was predicted by the chief analyst of the Cian company in a conversation with the TASS agency.

The expert suggests that this will happen mainly due to a jump in average prices during the period of rush demand before changes to the family mortgage program. “The reason for this is not a systemic increase in prices on the market, but a faster departure of less expensive apartments from exposure in the period of two to three weeks before and after the changes,” he continued.

As for real estate on the secondary market, according to Popov’s forecasts, the rate of growth in value will remain the same - by 0.8-1.0 percent per month. The key rate of the Central Bank is decreasing more slowly than expected, the rules for issuing preferential loans are becoming stricter, and all this will continue to stimulate the flow of demand from the primary to the secondary, the specialist believes.