Central Bank governor Elvira Nabiullina predicted a significant slowdown in the growth of housing prices in Russia. This was reported by RIA News.
“We definitely expect a significant slowdown in the rate of increase in house prices across the country, because prices were so high,” the Central Bank governor said.
He added that the situation in housing prices will vary from region to region, as price increases have varied in different parts of the country in recent years.
Previously Life.ru publication with reference to experts WroteIt was stated that versatile changes are expected in real estate prices in Russia as of February 1. The price of the economy segment in new buildings may increase by 10-15%, and the price of premium housing in the secondary market, on the contrary, will decrease by 5-10%.
Thus, the demand for apartments in new buildings has decreased due to the tightening of concessional mortgage conditions, said Valery Kochetkov from Inkom-Real Estate. The decline could be 35% by 2024. Developers are unlikely to lower prices as costs rise.
Previously Nabiullina in the name The most painful sanctions against the Russian Federation.