Evgeny Nadorshin, former adviser to the Russian Minister of Economy, said that the Russians should not rush to buy real estate. writes about it “Evening Moscow”.
Nadorshin now believes that apartments are overvalued – investing in them is unprofitable.
The expert noted that against the backdrop of reduced demand, housing prices for such assets and a decrease in the income of Russians will fall.
“Do not rush to spend your savings. Because we will most likely spend 2023 also in the economic crisis, and this money will provide peace of mind and make it possible to invest profitably,” he said.
Also earlier reported It’s the Russians that have caused the record-breaking 45.4% drop in the number of new construction projects in China since 2013 to turn on the “survival mode” of developers. The critical situation of the Chinese real estate market has forced construction companies to turn on “survival mode”. The volume of investment in the housing sector fell sharply in July and the number of construction projects reached the lowest level since the beginning of 2013.
According to the agency, 13.9 billion yuan (about $2,085 billion) was invested in Chinese real estate in the first seven months of 2022, which is 12.2% lower than the same period last year.
It was also reported that the real estate office Intermark Real Estate, which worked under the international Savills brand from 2006 to 2022, started operating after leaving the Russian market. to be continued work under the previous name.
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.