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It has been announced how the rise in prices for building materials will affect the cost of new housing
Prices for building materials have recently increased, and the head of the Russian Guild of Real Estate Agents Konstantin Aprelev predicted how this could affect prices for new buildings. According to him, price increases are still expected, DEITA.RU reports.
The expert emphasized that the money spent on construction, of course, affects the final cost of the house, but only slightly. In the capital, for example, concrete and metal account for only about 10% of the costs. The rest is the site fee, utilities, credit funds, project creation costs and all documentation.
Aprelev believes that rising prices for building materials could lead to a rise in housing prices of up to 2%. Overall, no significant rise in prices for new buildings is expected, but they are not expected to become cheaper either. Prices are rising, as are the costs of hired labor, and it will be expensive for developers to offer discounts to many people. Meanwhile, price growth in the secondary housing market has slowed, reportedly due to a resurgence in the popularity of mortgage loans. This is because some people are concerned that mortgage lending conditions will become more difficult.