Secondary resale prices in Russia peaked and fell 09:35

He said that prices for second homes in Russia reached a peak of 90 thousand rubles per square meter in September, after a long increase, and began to decline in October. RIA News Sergei Zaitsev, Sales Director of the Etazhi real estate agency network.

According to him, since the beginning of the year, the cost of reselling a “square” has increased by 14.6%, and in October it immediately fell by 0.8% to 89.3 thousand rubles. The previous decline was observed from October to December last year.

Zaitsev believes that the main reason for the current correction is the sharp decline in mortgage availability. If earlier there were buyers on the market who were approved for loans at old interest rates, now demand has fallen sharply. Sellers need to actively negotiate and offer discounts to genuine buyers.

According to the expert’s forecast, in the near future the average discount on the sale of a second home will increase only due to competition in the primary market, where cheaper mortgage rates prevail.

In October, second-hand sales prices fell the most in Perm, Nizhny Novgorod, Kazan, Rostov-on-Don, Chelyabinsk and Moscow. St. Prices in St. Petersburg still remain stable.

Before this, it was known that Russians had lost interest in rising real estate prices in Dubai.

Previously expert named Timing of the end of the real estate boom.

Source: Gazeta


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