From January to October 2007, investment in housing less than 90 square meters only accounted for 21.46% of the total housing investment. Some developers hoarded land and curtailed supply to  2  BIS Review 3/2008  push up prices.
That said, the emergence of new coronavirus variants, coupled with the still low vaccination rollout in Ukraine, poses the risk of additional economic losses in 2022. New pandemic outbreaks are unlikely to hit consumer demand hard, 2/3  BIS central bankers' speeches  but will stifle business activity. This could increase inflationary pressures. Other pro-inflationary risks are also important.