Forecasts for Future Are Unfavourable

Krasnodar, 12 March – Yug Times. The prices for apartments in newly-erected buildings in Krasnodar may soon soar up to reach new record values.

During the last year, the average price of a square metre grew nearly by 5% to 49,900 roubles. It was over ten years ago, in the third quarter of 2008, that the prices went up to reach the historic maximum of 50,200 roubles per sq m.

Ilya Volodko, MACON Consulting Company General Director, gives an unencouraging forecast for future prices: “In the near future, housing prices will continue to grow – due to two main factors: growing construction cost because of the increased VAT rate, and growing constructors’ expenses due to the legal novelties.” Volodko believes that prices for new apartments in Krasnodar may grow by 15 to 17% in 2019–2020.

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