In Moscow, the January calendar closed with 7,854 mortgage transactions recorded, marking an 11% rise compared with January 2023. This uptick is sourced from a press release by Rosreestr.
Examining a five-year trajectory shows the capital’s mortgage activity gaining 23.8% over that span. Back in January 2020, lenders registered 6,346 mortgage loan agreements, illustrating the broader growth trend that has persisted through multiple cycles.
Last month’s performance also positioned Moscow as hosting the second largest number of registered mortgage transactions in the entire observation period, a peak that trails only January 2022, when 8,353 contracts were issued.
By December 2023, the total transaction count exhibited a 19% decline from the previous year, yet this drop represented the smallest January-to-December contraction observed over the past five years. In that window, yearly declines have fluctuated between 36% and 54%, underscoring a notable stabilization in the market during recent cycles.
Analysts have linked these movements to shifting demand patterns, with increased interest in alternative real estate transactions emerging in Moscow as a response to evolving market conditions.
Earlier observations indicated resale dealers in Moscow showing a greater willingness to offer discounts to buyers, a trend interpreted as a sign of price negotiation becoming more common in a market adapting to new financing realities. [Rosreestr]”