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The housing market in Russian cities and housing construction in 2024

Georgy Malginov
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Georgy Malginov: Gaidar Institute for Economic Policy

Published Papers from Gaidar Institute for Economic Policy

Abstract: 2024 marked the end of the active growth for the Russian real estate market and the transition to the phase of expected slowdown. The well-established mechanism of state support for mortgages, which stimulated demand, was subjected to a double squeeze: the government’s radical modification of preferential programs and the Bank of Russia’s continued increase in the key rate. However, the retention of the general favorable background in the economy (GDP growth of 4.1% and real disposable income of the population of 7.3%) led to the fact that the downward trend manifested itself rather moderately.

Keywords: Russian economy; residential property prices; housing market; housing construction (search for similar items in EconPapers)
JEL-codes: H82 K11 L32 L33 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2025, Revised 2025
New Economics Papers: this item is included in nep-cis
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