In Russia, the share of unsold apartments in new buildings has reached a record high of 66%. This trend is explained by low demand, which may also fall in 2023 in the face of the potential cancellation of subsidized mortgages. About it writes RBC with reference to a study by INFOLine-Analytics.
The area of unsold housing in new buildings has grown to a record level of 66 million square meters. The figure was the highest since January 2020. General Director of INFOLine-Analytics Mikhail Burmistrov emphasized that this result is the highest in the history of the modern Russian housing market.
According to the analytical center of the state company Dom.rf, the volume of unsold housing in new buildings exceeds 41 million square meters, which is 44% more than at the beginning of 2021. Another 25 million square meters of housing under construction are occupied by projects in which sales are still closed.
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