The cost of finished private houses decreased by 15% in a year

Prices for ready-made individual houses in Russia have decreased by an average of 10-15% over the year, market participants told Izvestia. The main reason is that demand in the first half of this year was 30% lower than in the same period last year, when there was a massive mortgage with state support, and the volume of supply increased by 7-8%.

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Anton Saukov, head of the center for suburban real estate of the federal company "Floors", noted that despite the decrease in the part of building materials, prices for the construction of houses remained at the same level due to additional costs incurred by contractors due to the introduction of escrow accounts.

"Over the past few years, the volume of commissioning in the segment of individual housing construction, against the background of available loans, has been record-breaking, however, the situation has now changed. The demand for house construction has become lower, which is why some small and medium-sized construction firms that have not formed an airbag for themselves have faced financial difficulties and have not been able to complete even those houses for which they have signed contracts," he said.

The residential housing market is actually now living off the supply potential that has been accumulated over the past few years, and competition for a buyer is pushing sellers to make a discount when selling their properties.

Read more in the exclusive Izvestia article:

Under the housekeeper's roof: prices for ready-made private houses fell by 15%