The lowest prices were recorded in Kabardino-Balkaria (29.7 thousand rubles), Dagestan (32 thousand), Kalmykia (33 thousand), North Ossetia (34.5 thousand) and Karachay-Cherkessia (36 thousand).
The highest prices per square meter of housing are in Moscow (214.3 thousand), Sakhalin Oblast (122.9 thousand), St. Petersburg (118.7 thousand), Primorsky Krai (99.9 thousand) and Magadan region (94.5 thousand).
On average, the price per square meter of real estate in the first three months of 2020 in Russia amounted to 71.5 thousand rubles.
When compiling statistics, the primary housing market and all types of apartments were taken into account.
The cost per square meter in various regions is primarily affected by the amount of available housing on the market, said RT economist Nikita Maslennikov, a leading expert at the Institute for Contemporary Development.
Also, according to the expert, prices are affected by the state of demand for housing. And since demand depends on the income level of the population, in different regions the cost of a square meter of living space will depend on the size of salaries and savings of citizens.
“Naturally, now this may be slightly corrected from the implementation of the program of preferential mortgages at 6.5%. Anyway, the trends in mortgage lending rates are now going down. And many banks already lend below 7%, ”said Maslennikov.
Earlier, the Russian government expanded the program of preferential mortgages at 6.5% per annum.