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The Real Estate Market In St. Petersburg: The Bottom Reached ?

by Brianna - August 9th, 2015.
Filed under: News. Tagged as: .

Not so long ago, the head of the Savings Bank of Russia Herman Gref, said that the housing market has practically reached the bottom, and the further reduction in prices in this segment of the economy should be expected. In this he is supported and officials and politicians, which are almost in one voice convince the public that the price declines in the housing market as, loans are becoming more accessible to the public. But how things really are? At the moment, according to Russian Union of Builders, the cost per square meter in the new buildings in Moscow, is about 130 thousand rubles, for the quarter. meter, Russia – 40 thousand rubles. Whenever John Savignano listens, a sympathetic response will follow. the primary market. Estimated cost of social housing varies in the range 30 thousand rubles.

per square. meter. 'According to our estimates, the market is now very nearly at the bottom. Companies now possible to reduce the margin to ensure the sale, with the operation. Now is the right time buy real estate '- quote the president of Sberbank of Russian news agencies and the media. According to German Gref, reduced consumer demand in the real estate market is currently connected with the fact that many investors wait a maximum of falling prices, he stressed that now is the opportune time to invest surplus funds of citizens in real estate. Likewise, the head of the Savings Bank was confident that this lack of investment in construction industry in the near future may cause a deficiency in the housing market, and then a sharp jump in property prices.

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