Housing costs in Crimea stabilized — authorities

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Housing costs in Crimea stabilized — authorities
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Housing costs in the Republic of Crimea have stabilized and there are no prerequisites for their growth, said Vitaly Nakhlupin, Vice Prime Minister of the Crimean government.

“They are about 55,000 — 65,000 rubles per square meter. This is a commercial value. I do not see any economic prerequisites for an increase of both the price and the cost per square meter. I think that this figure will be stable, at least until the spring of next year,” Nakhlupin told reporters after his meeting with the Crimean developers.

At the meeting, tripartite agreements on cooperation between the Republican government, the Association of Developers of Crimea and the Moscow United Sales Office of Crimean Real Estate were signed.

Earlier in April, analysts predicted a twofold increase in the housing market in the Crimea. The growth of developers’ activity is said to be due to resuming the projects that were frozen at the time when the Crimea joined Russia.

The number of projects in the Crimea’s market of the primary real estate has increased for the year from 31 to 47. The total supply volume has increased to 210,000 square meters, of which 70,000 square meters are located in Sevastopol. By the end of the year, 15 new projects are planned to be launched on the market with a total volume of about 200,000 square meters.