Growth in housing prices in Russia turned out to be four times lower than inflation

10.09.2010 13:20
As a result of August 2010 the bid price for housing in Russia on average, changed by less than 0.1% (data obtained from 30 cities of the country).

According to data obtained REGNUM correspondent of the News of the analytical center "GdeEtotDom.RU, the period of price stagnation in the country has been going on for over a year. And for 8 months of 2010, housing prices in Russia grew by only 1.2%, which is 4 times lower than the rate of inflation since the beginning of the year has made 5,4%.

According to the head "GdeEtotDom.RU Alexander Pypin, expected in August 2010 predosenny price increase proposal has failed - largely due to the low activity of buyers and sellers in the European part of Russia due to abnormally hot weather. Moreover - the negative impact of high temperatures on the economic situation in some cities has caused the correction in prices. For example, in Saratov price cuts made in August 2010 1,6%.

Meanwhile in the capital of inflationary increase in housing prices continues, despite the climatic factors, ascertain specialists. In August it was 0.6%, slightly exceeding the July level of 0.4%. Since the beginning of the year price increase was 4,5%. In the Moscow region the growth rate in housing prices were zero. Compared with the beginning of the year prices are higher by 2%. In St. Petersburg in August recorded price increases by 0,9% (for the first three months). As much higher prices in the northern capital, and compared with the beginning of the year.

An average of 12 major regional cities (Novosibirsk, Yekaterinburg, Nizhny Novgorod, Samara, Omsk, Kazan, Chelyabinsk, Rostov-on-Don, Ufa, Perm, Volgograd, Krasnoyarsk), average prices in the secondary market for August increased by 0 1%. In the seven months of 2010, growth in house prices in major cities up 1.8%.

In August 2010, housing prices rose markedly in such major cities as Ufa (1,2%) and Samara (1%), and decreased in Volgograd (-0.9%) and Nizhny Novgorod (-0,6%) . In most medium-sized cities prices were falling. The maximum decrease recorded in the same town (-1,2%) and Abakan (-0,7%). The maximum price increase has been noted only in Izhevsk (0,5%) and Thule (0,2%).

In September, the result of increased business activity and growing demand from customers increased housing prices can reach more cities and in some of them exceed the inflation rate, experts add. Meanwhile, up to 8 months of price increases exceeded the inflation rate in only one of the 30 cities observed (in Ufa).
Content tags: Overseas property Housing
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