The government of the Russian Federation fears that housing prices may fall to the cost of construction. This was announced on November 13 by Minister of Construction and Housing Vladimir Yakushev.
According to Vladimir Yakushev, if the cost of housing falls so much that it becomes unprofitable for developers to work, the real estate market may collapse. Currently, the Ministry of Construction is seriously working on this issue.
The minister added that difficulties may begin in remote regions of the country, such as Altai, where prices for
new buildings there do not greatly exceed the cost of construction. In regions with high demand for
new buildings should not be a problem. These are, for example, Moscow, the Moscow region and the Tyumen region.
Prices for Russian housing have been gradually falling since 2015, along with the deterioration of the general economic situation. Many experts predict a sharp increase in the price of
new buildings, but so far it has not happened.
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