(MENAFN) Russian house rates increased by almost 10 percent in the last three months of last year in comparison with the same time span in 2022, based on the info from the Bank for International Settlements (BIS) issued by Visual Capitalist.

In real terms, taking inflation into consideration, assets rates in Russia increased by 9.7 percent. It was the fourth-highest upsurge internationally following Turkey, Israel as well as Iceland, which witnessed rates surge by 51 percent, 11 percent as well as 9.9 percent, separately.

Internationally, real estate rates fell by 2 percent throughout the same time span, signaling the initial decrease in 12 years. In China, India also Canada, property rates dropped by 5.4 percent, 3.1 percent as well as and 9.8 percent, individually.

The info base from the BIS roofed insignificant and real house rates increase all the way through 58 nations as well as areas as of the October-December period of last year. In spite of the flow in interest rates and mortgage expenses, real estate industry was outstandingly steady. Real rates stayed 7 percent higher than the levels before the COVID epidemic.

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