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Developers in Russia will not be required to reduce housing prices, since it is impossible to force them. This statement was made on Friday, April 28, by the head of the Ministry of Construction of the Russian Federation, Irek Faizullin, reports RIA News.
Earlier, during the XXIV Yasinsk international scientific conference, the minister suggested that developers reduce prices, noting that they have the appropriate tools. However, Fayzullin clarified that the wishes of the Ministry of Construction are advisory in nature and apply only to housing that is difficult to sell.
“When it doesn’t sell, you have to make your own decisions, so I recommended: “Colleagues, can you lower the price so that your home sells?” And everyone decides how much,” the official added.
The minister also stressed that the sooner the developer turns over his funds, the sooner it will be possible to start a new project.
Previously it was reported that area of unsold apartments in Russian new buildings in December 2022 amounted to 66 million square meters. m. This is 66% of the total volume of housing under construction and the highest rate of unsold apartments in the history of the modern housing market in the Russian Federation.
