Real estate price will increase in Nizhny Novgorod, Russia

The price growth is very rapid. Citizens should not expect decreasing of real estate price.

02.Sep.14 12:12 PM
By Abigail Richards
Photo Toinnov.com

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Real estate price will increase in Nizhny Novgorod, Russia

Apartments which are ready for living in new blocks of flats are becoming more and more expensive. Such trend has started in October 2013. There was no even slightly lowering of accommodation price during this period. At the same time price goes up all the time. They are likely to become even higher in the nearest future.

The price of 1 square meter of ready housing has increased by 0.5% over the last month in Nizhny Novgorod. If compared with the same rate and the same period in August 2013, the price has become 305 rubles per meter higher. The average cost of 1 square meter is 64 501 rubles. The most expensive apartments are in Avtozavodslot district. Gere price per one square meter of living area has increase by 900 rubles over the last month.

Experts say that the price will continue increasing in Nizhny Novgorod. Every month square meter of living area will become more and more expensive. It will not stop growing. At the same time they expect that price will increase by additional 3-5% by the end of 2014. This sum is enormous for ordinary citizens. However experts share their hope that price will start lowering in the beginning of 2015. On other words apartments will still be affordable for citizens.

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