The most important issue today - whether to increase prices? The first person companies answer - yes. However, not all market participants are configured so categorically - independent analysts are betting on the continued stagnation and even predict the next price reduction. Over the past eight months on a number of positions the cost of housing has decreased by 20%. Without waiting for more expensive apartments this spring, analysts predict that prices will rise and fall. At best, they simply stop, at worst - will fall by 7-10%. Compared to these statements the views of business owners is somewhat surprising. However, their position is understandable - who would make comments that could hurt their own business? As far as predictions come true developers, "F." evaluated at the end of this year.
"In my opinion, the growth of prices in Moscow and St. Petersburg will continue - this year it will be moderate and will not exceed 5-7% - believes CEO of the holding RBI Edward Tiktinsky. - And in 2008 there will be more intense, comparable to the percentage growth of inflation. Today is the state of the market - stabilization period - is a natural after last year's sharp increase in the price level.

Growth forecast at 5-7% for the year - one of the most restrained. According to Chairman of the Board of Directors of MIEL Holding Grigory Kulikov, 15% - quite likely value. A managing partner of Blackwood Konstantin Kovalev believes that by the end of 2007, the average price per square meter will grow to $ 5,5 thousand, or approximately 10-12%. "In 2007-2008, the trend towards higher prices will support the continued shortage in supply of new buildings and a pending unsatisfied demand of the solvent population, - said Grigory Kulikov. - If you make a forecast for a long time, we can assume that in the period from 2007 to 2010 the average growth rate of real estate in Moscow is about 12% per annum and the average offer price in such case to reach the year 2010 level of $ 7.5 thousand . per square meter. In any case, expected in the autumn surge in demand and rising prices will not be speculative - that converge all the experts and market participants. "In this period, neither the sellers nor buyers have no clear idea of what will happen to the market in the future, - explains the President of the corporation" Best-property "Grigory Poltorak. - Affects former contraction in demand, which has resulted in strong growth in housing values, promoting mortgage products. That is the demand, which was formed this spring to be exhausted in 2006. The fall of prices will rise, but unevenly. On housing, high liquidity, they will continue to grow steadily.

The rate of decline in prices for old five-storey unlikely to substantially exceed the growth rate value of apartments in high-quality new homes. "Moreover, the end of 2007 we can expect some recovery in the housing market business-class associated with the release of new projects - said Managing Director Knight Frank Jeremy Oates. - It is also likely to increase the number of services and options offered to buyers of quality housing, active development of mortgage lending. The growth rate of prices in the segment of business class will be 2-5% in 2008, projected to Knight Frank, is 5-8% in the first half of the year and 10-12% in the second. In the 2009-meters as this could be up to 20%. In general, the market is now focused on the seller, in the next 2-3 years will turn to the buyer, allowing him to dictate the rules of the game.

Seasonal recovery may affect all segments, but the maximum capacity will continue to market new buildings and suburban housing. Suffice it to say that back in 2006 has shifted the demand from the housing market of Moscow in the market of Moscow region. According to "Miel", in 2005, the ratio of buyers of flats in Moscow and the surrounding area was 60% to 40%, already in 2006 figure has changed - 52,6% against 47,4%. We can talk about pent-up demand. Many simply lagged behind the market or wait for lower prices, but because the overall welfare of the population is growing, increasing demand for suburban real estate - homes for permanent residence and cottages.

In addition, the region will continue to take away from Moscow and St. Petersburg part of the potential buyers of economy-class housing. "Demand for it is very high, but large-scale construction of such housing is difficult. In the capital, a shortage of available building plots, and if they appear, then the developers are trying to take them is clearly not the cheapest housing, - said Konstantin Kovalev. - All hope for the city program to demolish five-story building and development of industrial zones, but even they can not meet demand. All this led to mass migration of integrated development in the region. In the next 5-10 years is at the expense of such construction Muscovites need for housing can be fully satisfied. "

Even in Moscow and St. Petersburg do not have enough high-quality office and retail space, and in other regions can talk about the total deficit. It is with this, according to a member of the board of directors Mirax Group Alexei Adikaeva relates the steady growth in rental rates. Demand is rush nature. "By the end of 2007 rental rates for office space will increase by 15% compared with the beginning of the year, the trade" to rise "for 13% - believes CEO DeltaRealty Cyril Szczepanów. - Now make accurate predictions very difficult, all the attention drawn to Sochi, so the markets of other cities will experience a lull. "

Reducing the cost of leasing commercial space is hardly possible in the foreseeable future. Shopping in Moscow and St. Petersburg, as well as several other large cities, developed a cyclical, that does not diminish the value in any significant way. According to Knight Frank Global Market Report, Moscow now ranks the third after London and Paris-largest rental rates.

Continue decentralization office market. Within its limits are limited land resources for development, so developers are actively exploring sites in the Third Ring Road and the Moscow Ring Road "- says Jeremy Oates.

Edward Tiktinsky, CEO of the holding RBI:
- The real estate market in Russia have not seen crises. Twice we got into difficult situations, but coped with them. In 1998, when the ruble fell to four times the cost - in three, and selling price - in two. And a year ago, when I started to actively develop mortgage and found that engineers trained territories is small, the volume of proposals has fallen sharply, and prices soared. The third time we are unlikely to slip: it is difficult to imagine what would happen to the crisis did not come.

Konstantin Kovalyov, managing partner of Blackwood:
- Prerequisites for the reduction of prices in the housing market is still there - the prices can fall only to the previously over-priced items, with both low-and high-class, high-quality proposals for price reductions will not be affected.

Grigory Poltorak, president of the corporation "Best-estate":
- Already this fall, will quicken the housing market, prices start to rise, but no rush, we do not expect. There will be more demand for mortgage products, will increase the number of credit transactions. In the period of galloping growth of the market the buyer had forgotten about such issues as quality of housing and infrastructure, customers are gradually becoming more attentive, to be chosen meticulously. It will be in the future.

Grigory Kulikov, chairman of the board of the holding "Miel":
- Today shelter in Russia on average is 20.3 square. meters per person, in Europe the figure stands at 40 meters. We can not forget the old and dilapidated houses - in the period from 2007 to 2010, they must report annually to become a 20-30 million sq. km. meters less. Russia to reach European figures not before 2030, even with the boldest promises of the government.

Cyril Szczepanów, CEO DeltaRealty:
- Apparently, the period of saturation of the market office space in Moscow will start from mid 2009 - the sector is experiencing strong growth. But, of course, forecasts can be adjusted, because the situation is very much dependent on developers and their compliance with the terms of entry declared facilities in operation.

Alex Adikaev, a member of the board of directors Mirax Group:
- Despite the emergence of a number of office premises belonging to the class "A", with the introduction of restrictions on the city authorities for the construction of office buildings in the heart of the capital demand will only increase, so expect the market stagnation is not necessary. Higher prices will not stop even the appearance of large amount of land "Moscow City".

Jeremy Oates, Managing Director of Knight Frank:
- In connection with the decentralization of elite construction, the popularity of the development of acquired territories of the former industrial zones in the city, which will increase the representation of the popular districts of Moscow. Frequency stabilization of prices, which began in 2007, will be prolonged. Developers need time to develop a new concept of housing to attract buyers.