Housing under construction in Russia may increase in price by 5.5% by the end of the year, according to the forecasts of the Unified Resource of Entrepreneurs (ERZ). The forecast price increase by CIAN is an increase of 8%.
„The price situation is gradually stabilizing. In the first half of the year, housing under construction in Russia increased in price by 2.3-3%, while inflation was 3.8%. Therefore, ERZ predicts that housing under construction in Russia may increase in price by 5.5% by the end of the year. At the same time, CIAN predicts an increase in prices by 8%," said the head of ERZ Kirill Holopik during the online discussion "ERZ Trends".
According to Holopik in May-June, the nominal price growth was close to zero against the background of falling demand." The forecast for the end of the year is also based on practically zero inflation in prices for construction materials. According to surveys of entrepreneurs, the growth of Prices for construction materials is no longer as galloping as before. There is also a decrease in the growth rate of wages, which are an integral part of the cost of housing construction. These two factors give an understanding that the dynamics of the cost of construction will not stimulate the growth of housing prices. The reduction of the key interest rate by the Bank of Russia also means that the share of expenses of entrepreneurs may begin to decrease“, he said.
Entrepreneurs are trying to stimulate declining demand through discounts - this happened, for example, at the beginning of winter in the Moscow region. In addition, the forecast is influenced, in particular, by the reduction in prices for smaller apartments and studios. “Price growth continues, but is lower than inflation and lower than last year“, the expert concluded.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen at imot.bg