‘The continually increasing price per square meter of housing in 2006 resulted in extremely upscale figures, so right now we are expecting the real estate market to grow more stable; we believe the price should drop by 10% to 15%,’ Vice President of Russian Guild of Realtors Konstantin Aprelev announced at the conference devoted to the region-specific features of real estate market in the Ural Federal District in the first year of the national Available and Comfortable Housing to Russian Citizens program.

‘However, the real estate prices will definitely grow in the future alongside with the inflation rates. I believe one reason the builders raise their prices is their having to bear the engineering facilities and social infrastructure expenses. Quite naturally, they have to charge their customers for this. This is why our worn-out pipes and equipment will make it impossible to do any large-scale building or avoid the increase in real estate prices,’ Mr Aprelev said.