index shows the level of home prices in 14 major cities in the Russian Federation with a population of more than 1 million people.
ruble The national index of housing in Russia, HP Russia-14 to November 1, 2006 increased over the past month by 3% to 79 107 rubles.
If you count the weighted average price increase for the month, we will see that prices in major cities (TOP-14) rose by 9.4%. This in itself is not enough. In some cities-millionaire record even more significant price increases.
highest growth in prices seen in Nizhny Novgorod: +23% in October 2006, which, as previously thought, lags far behind the growth of other cities in Russia.
very high rates at the level of 10-12% showed the St. Petersburg (10.8%), Yekaterinburg (10.0%), Kazan (11.7%), Omsk (+12 , 4%). In cities with a relatively moderate pace of growth, but no less than very high, there has been growing at 7-9%. It is cities such as: Ufa (+7.9%), Novosibirsk (8.9%), Rostov-on-Don, Russia (6.9%), Novosibirsk (6.6%). Finally, there is a city in which rising prices stopped: Moscow, Chelyabinsk. According to information from St. Petersburg, the phenomenal growth in the northern capital at the end of October plays out. In November, we expected to stabilize the market reached earlier parameters. The pace of price growth in Ufa also decreased significantly at the end of the month.
After the highest growth in prices seen in the capital late last and early this year, came the turn regions. Interestingly, this banal allegation is easy to detect in the statistics. The average deviation of the price level in major cities of Russia from Moscow's values ranged from 2 to 3.2 times. Whenever prices rose in Moscow, the regional housing markets with a delay of six months are also beginning to grow.
example, in 2006 a multi-year trend of prices in Moscow were to stay, and in the regions to grow dogonyayuschimi pace, returning the difference with a capital of 3,2 to 2,5 times but this has not happened.
On the contrary, with higher prices in the cities of the country prices in Moscow continue their growth in spring. Typically, this growth is associated with the crisis in the market of new buildings, due to the adoption of the Federal Law No. 214, changed the rules of the game in the building market. The collapse in the market of new buildings superimposed on the high growth of income of Russians in connection with the increase in expenditure budget. In addition, a "mortgage arm, increases the demand. Thus, the effect of the notorious package of laws to create a market for "affordable housing" - shot on koshelkam of millions of Russians planned to buy an apartment.
to eliminate separation of the regional market of Moscow in the next few months will see more rapid growth in real estate prices in Russian cities, with the stabilization of the real estate market in the capital. Poles of growth are still. Nizhny Novgorod, Rostov-on-Don and Ufa that are likely to continue rising prices.