The Association of Realtors announced the reasons for the decline in prices of new buildings in Moscow 10:36

Konstantin Aprelev, deputy chairman of the Association of Realtors, says that the decline in prices of new buildings in Moscow does not increase their affordability, because this situation is explained primarily by the inaccessibility of mortgages. The situation where house prices have decreased since the beginning of the year within the framework of the adjustments made in mortgage programs, registered He speaks to the Public News Service.

Let us also remind you that experts said “socialbites.ca” noted that the average price per square meter in the Moscow new building market at the end of April was 461.5 thousand rubles – this figure fell by 0.9% during the month. At the same time, the average cost of square meters in Moscow has increased by 2.2% since the beginning of the year. Aprelev reminded that under the pressure of the Central Bank, banks increased the mortgage down payment to 30% of the total housing cost and generally tightened the conditions for customers.

“It is clear that not all buyers have a third of the required quantity, so demand has fallen sharply,” he explained.

The expert also added that the decline in value was also reflected in the secondary housing market, since transactions in this market almost stopped and therefore the flow of funds to the new construction market stopped. He explained that in 30-40% of cases, people go to buy an apartment in a new building after selling their apartment. Considering that such operations have now become noticeably more complex, people simply do not have enough money to buy housing, demand is falling, pushing prices down.

“The actual demand for primary residences has disappeared, and developers are now struggling to win customers, lowering the prices of their goods,” Aprelev concluded.

Previously recognized About a sharp change in prices of secondary goods in Russia.