House prices in Russia are still falling
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There are signs of hope, as the Russian economy expanded by 2.5% during the year to Q2 2017. But resale apartment prices fell by 2.3% over this period, according to the Federal State Statistics Service (Rosstat). When adjusted for inflation, the price index for resale apartments plunged by 6.23%.
"Last year the economic situation was worse, the value of the rouble was lower, the price of oil was lower and GDP was worse," said a global adviser surveyed by PricewaterhouseCoopers (PwC) in Emerging Trends in Real Estate 2017.
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