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Russia’s PIK says mass-market housing market strong

Posted on 24 January 2013

PIK Group, one of Russia’s largest homebuilders, said on Wednesday the residential housing mass market remains strong as it reported a 31 percent rise in new sales contracts during the fourth quarter.
Mortgage-backed sales were stable during 2012 despite interest rate increases for individual mortgages, PIK said, while average selling prices rose 10 percent in Moscow………………………………………..Full Article: Source


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