In July 2021, the Ministry of Construction recorded a decrease in demand for housing in Russia. Deputy Minister for Construction and Housing and Utilities Nikita Stasishin spoke about the situation on the real estate market in the country. TASS…
According to Stasishin, a similar trend was noticed after July 1. However, citizens can still purchase housing under preferential programs. “Let’s see what will happen in the fall,” the deputy minister said.
Stasishin added that the real estate market needs to stabilize prices, for which it is necessary to achieve a balance between supply and demand. The authorities also did not “enter the market with regulation from the federal or regional level” and decided to “optimize costs by building social, engineering and transport infrastructure at a faster pace,” the official explained.
A possible drop in demand for housing in Russia in June 2021 was predicted by Sergei Ermolaev, associate professor of the Department of Economic Theory of the Plekhanov Russian University of Economics. The expert said that the dynamics will be associated with the completion of the preferential mortgage program on the same terms.