Real estate market in Russia to collapse in 4-6 months – expert

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A crisis in the real estate market of Russia is to be expected in four-six months. This statement was made on October 1, during the Civil Housing Forum in Saint Petersburg by Andrey Likifet, the director general of the Housing Initiative Corporation (Moscow), who was delivering a speech entitled “Modern problems of the developer and the investor”.

“In few months, when the euphoria goes away and we run out of the money from the Stabilization Fund, a crisis will hit the real-estate market,” Likifet is quoted as saying by BN.ru. According to the source, experts addressing the meeting advise to buy housing now, “while prices are relatively stable”. They believe that buyers can take advantage of this fact and purchase housing. Everyone, who will miss out the moment, will lose, believe the participants of the forum. At the same time it is not quite clear, why one should buy expensive housing now, if the market is to collapse in half a year.