The cost of housing in the regions of Russia in 2022 will not exceed the inflation rate, and in regions with low demand for residential square meters, the rise in prices may stop. This was announced on Tuesday, December 21, by the general director of the state company Dom.RF, Vitaly Mutko.
“Housing prices in 2022 will enter a normal cycle and will rise by no more than the inflation rate, and in some regions, with little demand for housing, the rise in prices may stop,” he said in an interview with RBC.
The implementation of the corresponding forecast is possible provided that the government and the Central Bank take measures sufficient to stop the growth of inflation, he added.
According to the head of “Dom.RF”, the rise in housing prices occurred due to the introduction of preferential mortgages, as well as due to the growth of construction costs and labor costs.
Mutko expects a slowdown in the issuance of preferential mortgages in 2022 due to changes in her program. In particular, about 1.4 million mortgage loans will be issued, while in the period from January to December 2021, 1.7 million loans have already been issued.
On December 14, the newspaper “Delovoy Peterburg” wrote that the affordability of housing in Russia had dropped over the past two years. It was noted that the Institute of Urban Economics annually calculates the housing affordability coefficient, which allows one to estimate how many years a family with an average income will be able to save up to buy an apartment, provided that all its funds are directed only to purchasing housing. According to him, in 2020 this indicator began to grow, and at the end of the year the coefficient was 3.3. In 2021, it has not yet been calculated.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
