Despite weakening demand, average prices for second real estate in Russia’s major cities increased by 1% in February. This was reported by “Kommersant”.
However, experts state that there is a tendency for an increase in discounted transactions and a decrease in the real cost of apartments. Analysts predict that the market will cool further and prices will fall.
According to CIAN, the average supply price in the secondary market of more than 16 million cities and two regions in February amounted to 142.1 thousand rubles per square meter. m increased by 1% during the month. In January, growth was at 1 percent. At the same time, the average price in Moscow remained at 336.3 thousand rubles/m2. M.
However, experts state that real transaction prices have decreased due to the increase in the share of discounted sales. Thus, according to CIAN, the average discount during the month increased from 4% to 4.7%. This indicates a decrease in demand: since January, the number of transactions in Moscow has decreased by 20%.
Analysts predict further declines in activity and declines in prices. According to them, the accumulation of supply in the market will inevitably lead to a decrease in apartment prices. However, the sharp increase in discounts may attract the attention of investors.
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