"The average period for saving for an apartment without a mortgage in Russia has decreased to 5.6 years during the year, and for a private home to 7.1 years. The trend is associated with the slowdown in the growth rate of real estate prices," said the general director of the federal portal "World of Apartments" Pavel Lutsenko.
Analysts have calculated how many years a Russian will have to save for housing on the secondary market without resorting to a mortgage. The calculations assume that the entire salary of a citizen will go into savings, which means that he will neither drink, nor eat, nor have other expenses. The average salary is taken from open data from Rosstat.
On average in the country, the savings period for an apartment at a price of 5,841,262 rubles and a salary of 86,582 rubles per month will be 5.6 years. A year ago, this period was slightly longer - 5.9 years. If we compare it with the process of saving for a private house, then it is more difficult to save for it: on average in Russia it takes 7.1 years, and a year ago it was eight years“, said the agency's interlocutor. As the expert explains, real estate is becoming more affordable due to the fact that its prices are growing more slowly than Russians' salaries.
„The worst ratio between real estate costs and salaries was found in Dagestan, where the price of apartments has increased significantly in recent years and reached 7,629,770 rubles, while salaries are 43,174 rubles/month. „You will have to save for a full 14.7 years“, the analysts write.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen HERE