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Economy/Business
19 February 2020, 19:43

Analysts announced further increase in housing prices in Ufa in 2020

Analysts called Ufa among the cities in which the price per square meter of new housing increased significantly. According to CIAN, the most pronounced rise in prices in February occurred, including in Ufa, where new buildings for the month increased by 5% to 80 thousand rubles for 1 sq m. Growth for the year amounted to 13%.
The average cost of new real estate in Russian million-plus cities amounted to 74.93 thousand rubles in February, an increase of 1.2% compared to January and 7% compared to the same period last year, the Kommersant newspaper reports, citing CIAN.
Local analysts provide other data. According to Elena Andreeva, general director of the “Expert” Real Estate Agency Network, the average price for new buildings in Ufa is now about 70 thousand per square meter. The average cost of secondary housing is 65 thousand, and within the Ufa peninsula - 68.6 thousand rubles per square meter.
In 2019, the secondary market of Ufa grew in price by 6%, and the new housing market - by almost 17%. Further price increases are also forecasted in 2020.
Reduced mortgage rates and special programs can be the compensating mechanism, the expert says, but they do not affect the price, just provide sufficient but limited volume of transactions in the market.