In March 2023, the number of transactions in the secondary housing market in Moscow increased by 7% compared to the previous year. About this agency “Interfax” declaration at INCOM-Emlak.
“In March, demand in Moscow’s secondary housing market was 27% higher than in February and 7% higher in 2022 than in March,” the publication said.
According to the Director of Secondary Markets, Sergei Shloma, in March last year there was a serious boom in the secondary housing market, where there was a maximum demand and price increase. Afterwards, buyers’ activity fell sharply and rose again in October. At the same time, there are no factors for the secondary housing market to decline and the situation to gradually stabilize.
He added that now the price situation is up to the developers. The point is that the cost of housing in the secondary market will not decrease, while maintaining the current overheated prices for developers. There’s no reason for “secondary” prices to go up either.
March 30 Interfax cites data from Cyan analysts knowledgeableA similar trend is expected in the coming months, with the decline in prices in the secondary real estate market in Moscow. At the same time, the demand for such facilities in Russia is still less active than last year.