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RBC: Prices for one-room apartments have jumped in Russia

RBC: Prices for one-room apartments have jumped in Russia

One-room apartments in Russia continue to rise in price. Over four years, the price has increased 1.6 times, RBC writes, citing Frank RG analysts.

In the study, experts cited their own calculations and Rosstat data. Thus, the average price of a one-room apartment in Russia from 2020 to November 2023 increased by 64%, amounting to 4.6 million rubles. At the same time, in 2020 the average price was 2.8 million rubles, in 2021 it increased to 3.3 million rubles. The peak rate of growth in prices for one-room apartments occurred in 2022 – the average price increased by 1 million rubles, to 4.3 million rubles. In 2023, growth rates slowed to 7%.

The study also emphasizes that among the regions, Moscow and the Moscow region have the highest prices and growth rates – plus 9% and plus 5%. Thus, the average cost per square meter in Moscow at the end of the third quarter was 324.8 thousand rubles, in the Moscow region – 174.9 thousand rubles.

It is noted that the rise in housing prices is fueled by mortgage lending programs on preferential terms – by the end of 2023, the market will set another record for the issuance of mortgages. At the same time, the rushed demand for new buildings is also created by the imminent end of the state program of preferential mortgages – valid until July 1, 2024. Also, the Bank of Russia will introduce a number of tightening restrictions for mortgage loans from January 1, 2024.

Source: Rosbalt

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