In Russia, they came up with a way to stop the rise in apartment prices

Izvestia: the State Duma proposed to extend duties on metals due to the rise in housing prices

ferrous and non-ferrous metals to prevent further increases in residential property prices. Since the beginning of 2021, metal products have risen in price by 25-80 percent, and this negatively affects the cost of new apartments, Izvestia writes.

to extend export duties, which were introduced from August 1 to December 31, 2021, for the whole of 2022. According to the parliamentarian, this will at least stop the rise in prices for construction fittings. The deputies' way of influencing pricing will soon be discussed with builders, Koshelev said.

President of the Osnova development company Alexander Ruchev noted that the share of metal in the cost of construction is about 12 percent. VEB.RF said that the rise in prices for building materials has become one of the key factors in the growth of housing prices in 2021.

According to the President of the National Association of Builders Anton Glushkov, from October to November alone, metal prices increased by 15 35 percent depending on the region. The retention of duties will increase the share of metallurgists' products for the domestic market, Ruchiev believes. This, in turn, will contribute to the stabilization of apartment prices, the expert concluded.

Earlier it became known that at the end of the third quarter of 2021, the demand for apartments in Russian new buildings fell by 25 percent compared to the same period last year. At the same time, experts recorded an increase in the number of proposals for the sale of apartments in new buildings.

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