How the fall in the ruble exchange rate affected housing prices in Russia

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How the fall in the ruble exchange rate affected housing prices in Russia
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As a result of the fall in the exchange rate of the ruble against the dollar — a tendency observed last month — there were no significant price changes per square meter of secondary housing in Russia, RBC news agency reports with reference to experts at Domofond.ru.




The reason for the April price fluctuations were seasonal factors, rather than the change in the exchange rate of currencies, which impact, if any, was insignificant, experts specify.

“Most of the transactions with secondary housing in Russia are alternative. That is, money received for the sold housing is spent on the purchase of other similar facilities and in a very short time. Thus, transactions with housing are most often not dependent on the exchange rate. Since mortgage loans in foreign currency are practically not issued in our country, the dynamics of the exchange rate is unlikely to affect prices in the long term”, analysts note.



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