Kommersant: New Building Area in Russia Increases for the First Time in Six Years
According to the results of August, the average area of apartments in Russian new buildings increased for the first time in six years. Experts report that housing in the country has begun to grow “Kommersant”.
Over the year, the area of apartments on the primary market in Russia has grown by 2.8 percent, to 50.9 square meters. In Moscow, the figure has also increased – according to various sources, the growth was 2.6 percent year-on-year or 15.5 percent. Analysts attribute this dynamic to new restrictions on the sale of small lots.
At the same time, demand for small properties in the capital has fallen. In August 2023, new buildings up to 30 square meters accounted for 20 percent of all transactions, and this year – 10 percent. The decline in buyer interest is due to the end of the mass preferential mortgage, which investors actively used.
Earlier, real estate market experts named the Russian regions with the most spacious housing in new buildings. Chechnya turned out to be the leader.
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