07.09.2021

The cost of housing has noticeably decreased in Russia for the first time in a year

There was a noticeable decrease in housing prices in Russia for the first time in 2021. For example, in the most actively developing South-Eastern district of Moscow, the price of new buildings in July fell by 1.5%. It is expected that by the end of August the metropolitan real estate will drop in price by another 1.7% due to the growing supply on the market.

On August 24 the President of Russia Vladimir Putin announced that the country for the first time in its history has the opportunity to solve the housing problem in general. "The situation is such that we for the first time in maybe the entire history of tsarist and Soviet Russia, and modern Russia, are able to solve this problem [of housing] as a whole," he said.

Earlier, the President offered to allocate RUB 45 billion for a new rehousing program. This new approach will be applied to the residential buildings declared unfit for habitation by January 1, 2021.

Region: Russia
Source: Lenta.ru
Tags: building
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