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Residents of Magadan are easiest to save in Russia for an apartment
A little more than a year will require an average resident of Magadan to save up for the purchase of a standard apartment of 54 square. meter. This result was the best in Russia. The results of a study on the availability of housing for Russian families at the beginning of 2018, prepared by experts of the rating agency RIA Rating, suggest that a noticeable improvement in the result in the region was due to a significant decline in house prices in the secondary market, as well as due to an increase in the free cash balance and the growth of savings.
Next to the Magadan Region, the Yamalo-Nenets and Khanty-Mansiysk Autonomous Okrugs are located: there, for savings, one and a half years and slightly more than two years, respectively. The rating of Dagestan closes, where the average family with one child needs to save almost 14 years.
According to experts, the availability of housing over the past year as a whole across the country has grown a little. On average for Russia to purchase an apartment in the first quarter of 2018, you need to save 3,8 years, and by the end of the first quarter of 2017, it took 4,2 years.