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Decline in private home prices announced
From July to September, prices for individual housing in Russia decreased. IA DEITA.RU notes that this trend is typical for regions that make up more than half of the country's territory.
Real estate rental and sales experts conducted a study of 85 regions of the Russian Federation and found that prices for private housing in 54 regions have decreased over the past three months. The most active decrease was recorded in the Murmansk, Tomsk, Moscow, Smolensk regions and St. Petersburg. On the contrary, prices increased in 31 regions, with the greatest growth observed in the Magadan Region, Ingushetia, Tyumen, Vladimir and Kaluga Regions.
Despite the growing interest of Russians in housing outside the city, the increase in key interest rates has led to Russians investing their savings in banks rather than spending them. The main demand now is mainly for budget-priced dachas.
Keep in mind that building a house will be cheaper than buying one. According to average estimates, building a house costs almost 6 million rubles, and buying it costs a little more than 7 million.