Property prices came a breathtaking 45% up in Moscow last year, said Mr. Aprelev, who described the rise as "abnormal and dangerous to the market". Things are getting back into reasonable limits now, he added reassuringly. Thus, the first half-year send the prices 20% up.
As for an impact of banking problems on the property market, prices increased by a token 0.5%, June, and 0.3% down, July. Things were different in the Moscow environs, with steady 1.5-2% monthly rises. The guild boss qualifies it as price fluctuations not decrease. "The property market is extremely conservative," he pointed out.
Housing and land plots will get ever more expensive, what with exorbitant petroleum prices, and incomes respectively increasing. Then, Russian investment arrangements are only in the making, so the public-at-large regards property as the easiest and the most profitable purchase.
Banking instability may force bankers into cutting construction investment, so property offers will shrink. That, too, will send prices up, expects Konstantin Aprelev.
