In April, the rise in prices for new buildings in Russia slowed to a minimum

The growth rate of prices in the primary real estate market in Russia has slowed to a minimum. This was reported by experts from Domclick and the Center for Financial Analysis Sbera.

According to data on the bank's mortgage transactions, in April the average cost of 1 sq.m. in the primary market increased by 0.1% to 172.3 thousand rubles.

The leaders in the cost of housing under construction are Moscow (350 thousand rubles per square meter), St. Petersburg (247 thousand), the Moscow region (191 thousand), Tatarstan (186 thousand) and the Leningrad Region (171 thousand).

At the same time, in two of the five regions (Moscow and Tatarstan) with the highest prices for new buildings, there was a decrease in cost (-1.5% and -0.5%, respectively), and in the Leningrad region prices increased by 1.4%.

The largest increase in supply prices was recorded in regions that have been in particularly high demand from buyers in recent years. This is where sellers are most actively trying to return to a steady rise in prices, analysts said.

They also drew attention to the fact that in April the difference between the price of a square meter in ads and transactions in the primary market of the Russian Federation increased and amounted to 12.8% (against 11.8% in March). In Moscow, this gap reached 28%.

"The annual growth rate of prices for primary housing continues to decline (in April, year-on-year growth was only 7.7% compared to 8.4% in March), and the share of monthly sales for nine months in a row cannot exceed 2% of the total construction volume. The gap between the offer price and the transaction price (which shows the seller's degree of confidence) is stagnating," the experts said. According to them, all this suggests that prices in the coming months may go down or remain fixed at the current level.