Housing prices growth recorded in all cities of Russia in the 1st quarter

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How told TASS, prices in the secondary housing market have increased in almost all cities of Russia since the beginning of 2020. According to the results of the first quarter, the growth amounted to 5.2%, the analysts of the federal portal World of Apartments reported on Thursday.

“Over the past three months of this year, the price per square meter has grown in 62 cities out of 70, and decreased in eight. The average offer price rose in 52 cities, dropped in 15, and remained unchanged in three, ”the statement says.

Most of all, the average cost per square meter and the average offer price increased in Krasnoyarsk - by 5.2% and 4.5%, respectively. In Novosibirsk, the growth was 4.7% and 4.4%, respectively, in Tula - 3.9% and 0.5%, Rostov - 3.9% and 4.6%, Yekaterinburg - 3.8% and 4.7 %. In Moscow, the average cost per square meter in the secondary market has grown by 3.7% since the beginning of the year, offers - by 4.2%, in the Moscow region - by 3.6% and 4.1%, respectively, St. Petersburg - by 3.1% and 5.4%. The top ten were also the two largest cities of Crimea: Simferopol (+ 3.6% and + 4.1%) and Sevastopol (+ 3.3% and + 5%).

According to the federal portal, at the end of March, the average price per square meter in the secondary market in Russia amounted to 61.2 thousand. rubles, the average price of a lot is 3.5 million rubles. On average, prices for all cities with a population of more than 300 thousand. people grew by 1.7% - both to the price per square meter and to the offer price.

“With the collapse of oil prices and the ruble exchange rate, two groups of buyers became more active: some rushed to make a deal at the old mortgage rates, rightly believing that those will soon rise, others are investors who considered that an apartment is a good investment for rapidly depreciating funds. Some owners, sensing an increased interest in the assets, raised the price tags, ”the words of the General Director of the portal, Pavel Lutsenko, are quoted in the message.

Analysts predict that in the second quarter of 2020, the demand in the secondary housing market in Russia will fall as the population's ability to pay and a possible rise in the cost of mortgages, therefore "the owners who did not manage to sell their apartments will have to lower prices willy-nilly or wait for better times."

Source: TASS

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