Finished flat prices in Russia will increase by 4-5% in 2024. This forecast was given to socialbites.ca by BitRiver’s economist and communications director Andrei Loboda, who commented on the stagnation of prices even with a decrease in demand in the secondary real estate market.
“This year, second home prices in major cities will likely remain stable or increase, but by a very small amount, at a rate well below inflation. After the cancellation of the privileged housing loan program for new buildings, that is, after July 1, unless it is extended in certain regions, the demand for second homes will gradually increase. So there will be no decrease in second home prices this year,” Loboda explained.
According to him, rental housing is in demand by the population, but living in a rented apartment for many years is not an ideal option, especially if it is a family with children. The economist said that you can buy an apartment, especially at the construction stage, and it will cost less than an apartment.
“Preferential mortgages are still available until July 1. More profitable than renting. And after July 1, family mortgages will be possible. In addition, even now, when interest rates on deposits are high, it is profitable to save for a mortgage down payment,” the expert concluded.
Demand for secondary real estate in major cities of Russia continues to decline due to the general economic situation, the newspaper reported on March 17 “Kommersant” By consulting expert opinions; However, so far this has not led to a significant decrease in average supply prices: according to real estate companies, prices for finished apartments in March increased by 0.1-1% compared to February.
Previously “socialbites.ca” saidWhat will be the housing loan interest rates after the Central Bank meeting on March 22?