Price rise ceases on Russian real estate market

In the middle of November 2010 Russian real estate market showed negative dynamics. According to analytical centre average prices for realty didn’t changed in thirty nine of analyzed Russian cities for the last two weeks (November, 1-14th).

Price rise stagnation is the result of the business activity pick on sale-buy real estate market which took place recently. Sellers intending to make sale deals before the New Year have to give potential clients discounts.

In the meantime the business activity is to decline up to New Year holydays and the new wave is expected traditionally in the end of 2011 year. In the whole the results of analysis of thirty nine Russian cities in the period November, 15-21st showed that average prices in the secondary market decreased in 17 cities (44%) and increased in 11 (28%).

In other cities changes in price formation didn’t exceed 0.1%. The maximum price rise was registered in Kursk (1.4%), Irkutsk (1.1%) and Barnaul (0.8%). The most considerable price cut down was fixed in Samara (-1.1%), Saratov (-0.9%) and Yaroslavl (-0.8%).

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