Real estate in Crimea is rapidly becoming more expensive

Only a month has passed since Crimea became part of Russia, and real estate prices in the region have managed to grow by 50%. The cost per square meter is now about 1.5 thousand dollars. In addition, there is an outflow of professional builders from the peninsula.

In Crimea, over the past month and a half, real estate prices have risen significantly: the cost per square meter has increased from about 1 thousand dollars to 1.2-1.5 thousand, said Galina Kovalenko, a representative of one of the largest construction companies in Crimea, Console-Stroy LTD.

Kovalenko noted that over the past month and a half in Crimea, construction materials - cement, crushed stone, sand, and these are the main components of production-have risen in price twice or more. As a result, the cost per square meter has also increased.

In addition, she said that there is an outflow of professional builders from Crimea to other regions of Russia, where the average salary is about 1 thousand dollars with free accommodation, while Crimean construction sites pay about 300 dollars.

"People are leaving the facilities. Our labor force is leaving. People are starting to leave the territory of Crimea in search of better working conditions and higher wages, " the expert noted. She suggested taking urgent measures to support the Crimean construction industry, otherwise the cost per square meter may reach a record high of 2.5 thousand dollars.

The real estate market in Crimea began to enjoy increased demand after the annexation of the peninsula to Russia. Crimea and Sevastopol became new regions of Russia after a referendum held on March 16, in which the overwhelming majority of residents voted to join the Russian Federation.

Experts believed that prices for Crimean real estate will grow, and, possibly, in the future will exceed the indicators of the Black Sea coast of the Krasnodar Territory.