OREANDA-NEWS  Housing in most Russian cities has increased in value over the past month. The rate of price growth has also accelerated, RBC reports with reference to a study by the consulting company SRG.

By the end of February, apartments fell in price only in three of the fifty cities studied: Astrakhan (by 0.71 percent, to 78 thousand rubles per square meter), Novokuznetsk (by 0.57 percent, to 92.2 thousand rubles per square meter) and Saratov (by 0.29 percent, to 96.3 thousand rubles). At the same time, housing prices fell in 14 Russian cities in December, and in eight cities in January. At the beginning of the year, prices decreased most noticeably in Krasnodar (by 1 percent), Yaroslavl (by 0.51 percent) and Novokuznetsk (by 0.48 percent).

Prices rose most noticeably in Kursk, where the median cost per square meter increased by 3 percent, to 96.2 thousand rubles. Kaliningrad takes the second place in the rating with an increase of 2.5 percent (128 thousand rubles per square meter). Makhachkala closes the top three (2.4 percent, 114.4 thousand rubles). This is followed by Kirov (2.2 percent, 101.1 thousand rubles) and Irkutsk (2.12 percent, 132.2 thousand rubles). In Moscow, housing added 2 percent in value, reaching 337.1 thousand rubles per square meter. In the Northern capital, the price tag rose by 1.7 percent (215.2 thousand rubles).

According to analysts, the upward trend in housing prices is due to the increased popularity of cash transactions. The number of purchases using borrowed funds has seriously decreased against the background of high interest rates. Further price reductions, experts believe, depend on how potential buyers decide to dispose of their bank savings. If Russians decide to invest more actively in real estate, prices will continue to rise in the coming months.

Kursk is also leading in the growth of prices for secondary housing. In addition, the ready-made fund has risen in price in Volzhsky, Perm and Kirov.