Price in secondary housing market in Minsk decreased by 4%
In the first quarter of 2008, the average price of a square meter in the secondary market of housing in Minsk has decreased by 4 % — from $1,979 to $1,904, informs the analytical center of Realt.by portal.
According to experts, the prices have decreased basically for apartments of old construction. Customers have an opportunity to choose and buy flats either in new houses, or apartments for which the seller is ready to reduce the price. As a whole the market of the real estate is now stable; apartment prices will continue growing in the long-term perspective, experts forecast.
Apartments for sale in districts Tsentralniy ($2,313 per square meter) and Sovetskiy ($2,106) are still leading in average prices. The lowest prices are in Zavodskoy ($1,692) and Leninskiy ($1,840) districts.
For the first quarter of 2008, the apartment prices decreased in Partizanskiy district (by 4.66%) and Moskovskiy district (by 4.65%). Only in Tsentralniy district, the average prices for apartments have shown a slight growth (by 1.89%). The prices in other districts of the city have gone down within the limits of 2—4%.
The number of apartments for sale in the Internet and the real estate databases continues to grow. For instance, if in the beginning of 2007 there were about 2,500 apartments on sale in the market, in the beginning of January, 2008, more than 7,500 apartments were put on sale, and in the beginning of April the figure was already more than 9,000. The leader on quantity of secondary housing supply in Minsk for January-March 2008 was the Frunzenskiy district (23% of the all offers). Next follow districts Pervomayskiy and Moscovskiy — with 13% each, Sovetskiy — 11%, Leninskiyt and Zavodskoy — with 10% each, Tsentralniy — 8%, Octyabrskiy — 7% and Partizanskiy — 5%.
In new buildings, the commercial price of apartments is about $1,500—$2,500 per sq.m. The average price of the apartments of shared construction and in new buildings in Minsk has decreased for the first quarter 2008 by 4.5% and makes $1,933 per sq.m.
In Kiev the average price in the secondary market in January-March was $3,683 per sq.m., showing an increase of 11.4% from the beginning of the year. The average price of apartments in the primary market of Kiev is lower than in the secondary market, and totals $2,819 per sq.m. The average price in the secondary market of Moscow in the first quarter was $5,250 per sq.m., showing a growth of more than 18% from the beginning of the year.
23:31 04/14/2008
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