Since early 2018, the price per square meter of secondary housing has increased by 2% in many large cities of Russia.
This was reported on Friday by Interfax news agency citing a study of World Of Apartments website. It notes that for the first time in the last 2 years, more than 80% of Russian cities have shown positive dynamics. This conclusion was made on the basis of analysis of almost 70 cities with a population of over 300,000 people. All segments of real estate market, except for elite housing, have been explored.
Meanwhile, experts have noted that this trend has not affected Moscow, the Russian capital city, where even a negative dynamics has been observed. As it turned out, the price per square meter of secondary housing in Moscow has fallen by more than 2%, amounting to about 200,000 rubles ($3,500). However, in St. Petersburg, a significant 3-percent increase was recorded and today secondary housing in Russia’s northern capital can be purchased at about 100,000 rubles ($1,700) per square meter.
In addition to St. Petersburg, positive dynamics was noted in the cities of Sochi, Tver, Perm, Tomsk, and Makhachkala, where the cost per square meter has increased by 5-6% since the turn of the year.
