INFOLine: the cost of repairs in Russia has increased by 20 percent since the beginning of 2021 
Home repair has risen in price by 20 percent since the beginning of 2021. According to INFOLine, the growth in cost has become one of the highest in the entire history of observations, Rossiyskaya Gazeta reports.
In 2020, the repair of one square meter in Moscow would cost an average of 6,034 rubles, and in the third quarter of 2021, the amount is already 6,875 rubles (plus 13.93 percent). In St. Petersburg, the weighted average price increased from 6,712 rubles to 8,059 rubles (plus 20.05 percent). At the same time, in 2019, the cost of repairs compared to the previous year increased slightly – in St. Petersburg the growth was slightly more than three percent (from 6,144 to 6,273 rubles per square meter).
The general director of the agency, Ivan Fedyakov, explained the sharp rise in the cost of repairs in Russia by the rise in prices for building materials due to a shortage. “Against the background of not so dynamically growing incomes of the population, not all households will be able to afford the purchase of building materials, household goods due to their high cost,” he stressed.
According to Rosstat, the production of finishing materials (ceramic tiles, wallpaper, and so on) is increasing. However, demand is growing much faster. The cost of repairs is also influenced by the construction boom of the last year and a half, as well as the increased amount of free time people have due to the difficulties with travel while on vacation. According to Avito, at the end of the summer of 2021, the demand for building materials increased by 70 percent compared to 2020, and almost three times compared to 2019.
Worker services are also becoming more expensive. By September 2021, the average repair and construction check was up 12 percent from the beginning of 2020, according to YouDo.com. The reason for the increase in the cost of services is a shortage of labor due to the outflow of labor migrants.
Renovation can be a good investment for those citizens who are going to rent an apartment. Oksana Polyakova, deputy director of the apartment rental department at INKOM-Nedvizhimost, said that renovated housing is being rented out faster. According to her, the lack of cosmetic repairs reduces the rental cost by 5-10 percent. At the same time, it is not always worth spending too much money on renovating an apartment – the rental rate will still not grow much if the housing is located on the outskirts.