Fighting the rise in real estate prices in Russia is possible only by increasing the supply on the market.

This was announced on Thursday, May 27, by Deputy Prime Minister Marat Khusnullin at a meeting of the Board of the Ministry of Construction.

“It is necessary to create conditions for starting new projects - both budgetary construction projects and extra-budgetary ones.

It is necessary to create conditions for investors.

This is the key task, ”Khusnullin emphasized.

According to him, the volume of housing commissioned in the country by the end of 2021 should amount to 85 million square meters.

At the same time, already now, construction indicators are 28% higher than the levels of 2020, and the number of permits issued for the construction of new facilities is growing for the first time since 2019.

In addition, the simplification of all administrative procedures in the industry should ensure the stability of housing prices, the Deputy Prime Minister said.

Thus, the pace of construction may accelerate, which will positively affect the value of real estate.

“If we reduce the investment and construction cycle by 30%, housing will be cheaper.

The construction speed will be faster.

The annual amount of money in the country's economy will come from the construction industry by 2 trillion rubles more, ”added Marat Khusnullin.

As Irina Radchenko, vice president of the International Academy of Mortgage and Real Estate, noted in a conversation with RT, it is precisely the reduction in construction time that will increase the volume of housing being built in Russia.

At the same time, the determining factor in this case should be the preservation of the quality of the houses being built, the expert emphasized.

“The main thing is that new houses are built in accordance with all established standards.

If the quality of projects does not deteriorate due to the acceleration of processes, then objectively developers will lease more objects, which will have a positive effect on the volume of supply and, as a result, the value of real estate, ”the specialist noted.

According to Marat Khusnullin, the transition to BIM technologies will also help reduce construction costs in Russia.

According to experts, the mechanism involves the creation of a complete dossier on the building - from the moment of design to a hypothetical demolition in decades.

The information base for the object includes data on all construction processes, as well as the future form of the building and its communications.

“All this provides additional tools for monitoring the fulfillment of the terms of reference by contractors and reduces risks for lenders.

The use of technology should help to adjust the final cost of housing - by reducing the cost of servicing the loan and partially reducing costs at all design stages, "Pavel Utkin, a leading lawyer at the Parfenon United Legal Center, explained to RT.

BIM technology allows for more efficient planning and construction of facilities, says Irina Radchenko.

At the same time, it becomes possible to design massive building objects at once, including entire neighborhoods.

“In this case, construction is really cheaper, since it is less costly to lay communications for 30 houses than for each house individually.

In addition, designing an entire residential complex with the adjacent territory at once allows us to speed up the project delivery time, ”added Radchenko.

Price ceiling

According to Irina Radchenko, in 2020, housing prices on average in Russia increased by about 20%.

As the expert explained, the rise in prices was largely due to fluctuations in the foreign exchange market and a record decline in deposit rates.

As a result, keeping funds in bank accounts became less profitable, so Russians were more actively investing in real estate.

In turn, the rush demand in the market turned into an increase in the cost per square meter.

In addition, experts associate the increased interest of citizens in buying real estate with a fall in rates on housing loans and the launch of a preferential mortgage program.

Recall that from April 2020 to July 1, 2021, Russians can get a housing loan at 6.5% per annum.

You can get such a loan when buying apartments in new buildings worth up to 12 million rubles in the Moscow and St. Petersburg agglomerations, as well as up to 6 million rubles in other regions of the country.

“In the last nine months alone, real estate prices in the regions have grown from 10% to 30% in the new buildings market.

At the same time, the secondary housing has risen in price by only 10-15%, "said Konstantin Aprelev, an honorary member of the Russian Guild of Realtors, in a conversation with RT.

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Meanwhile, in 2021, the expert does not expect the same rapid rise in prices.

In his opinion, the cost per square meter on average in the country may remain close to the current values.

“Completion of the preferential mortgage program may slow down the demand a little.

In addition, the tendency to move out of town and build their own homes will also affect the market.

According to polls, now 75-80% of Russians want to live in private houses outside the city.

Therefore, in general, people will buy less apartments in apartment buildings, ”Aprelev said.

In addition, due to the increase in the key rate by the Central Bank, interest on bank deposits in Russia will start to grow again, said Irina Radchenko.

This state of affairs can further reduce the demand in the housing market.

Against this background, even in the event of a rise in prices for real estate, the rise in prices will be within inflation limits, says Pavel Utkin.

“It is highly unlikely that the cost of housing will rise faster than inflation this year. That is, the ceiling for price growth at the current moment is about 5-6%. At the same time, an estimate of 2-3% looks more realistic, ”concluded Pavel Utkin.