House prices in Russia have fallen over the past month. Prices of flats for sale dropped by 56 percent. The newspaper writes about this “News” Referring to the data of the Etazhi company.
“Competition for buyers in the finished housing market is becoming increasingly intense, many owners are adjusting the starting price of their property in order to shorten the sales period,” said Etazhey sales manager Sergei Zaitsev.
The expert noted that currently there are not many buyers in the market with a large share of their own funds. He also emphasized that sellers must compete not only among themselves, but also with “primary” companies where mortgages are more affordable.
The largest price drop at the end of the month was recorded in Moscow; prices dropped by 66% of lots. Next comes Yekaterinburg, where the cost of residential real estate is adjusted by 45%. Kazan completes the top 3. The price of 36 percent of all apartments offered for sale in the capital of Tatarstan fell during this period.
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Source: Gazeta
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