The average supply price of apartments in the secondary market of major cities increased by 1% in January after an increase in mortgage rates reduced demand. This was reported by “Kommersant”.
According to analysts, buyer activity will remain low, which could lead to a decline in home prices until spring.
The average supply price in the secondary market of more than 16 million cities and two regions in January amounted to 141 thousand rubles per square meter. m calculated in CIAN. This is 1% higher than in December. Throughout the year, price growth slowed from 2% to 1% per month.
The largest monthly growth was recorded in Krasnodar (+2%) and Nizhny Novgorod (+3.2%). St. Prices in St. Petersburg increased by 0.4%. In Moscow, this figure is 279.3 thousand rubles/m2. m (+0.1% compared to December).
Avito Real Estate also states that demand in the secondary market has decreased by 35% due to rising mortgage prices. Experts attribute the situation to the Central Bank’s key interest rate. Even if it is high, buyer activities will be limited.
Analysts say the decrease in demand could lead to a drop in prices in the spring. Meanwhile, the owners are not ready to make concessions. However, experts concluded that the level of bargaining will increase as we adapt to new conditions
Before recognizedHe said that Russians became more interested in new buildings at the end of 2023.
Previous experts guess Transforming mortgages into a “luxury item” in 2024.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.