THE REAL ESTATE MARKET IN THE RUSSIAN FEDERATION IN H1 2013

In the first six months of 2013, 278,200 apartments with the total floorspace of 22.6m sq. meters were built. The average actual cost of building of 1 sq. meter rose by 11.8% in the first six months of 2013 as compared to the same period of 2012 and amounted to Rb 35,628, while the ratio between the price of 1 sq. meter of housing on the primary market and the cost of building of 1 sq. meter decreased within the same period by 7.0 p.p. and amounted to 138.5%. In the first six months of 2013, the volume of registration of individuals’ titles to land plots increased by 5.9% as compared to the first six months of 2012. In January-July 2013, 410,880 mortgage housing loans (MHL) worth Rb 663.6bn were extended which figure exceeds by 28.1% the monetary volume of MHL extended in January-July 2012. In July 2013, the average weighted monthly rate on MHL in rubles fell to 12.5%.