The sales director of the Zapstroy group of companies, Evgeniy Beskrovny, notes that there is only a slim chance that prices for core goods will start to retreat sharply in Russia. His assessment frames the market narrative for the outlet lenta.ru, reflecting a cautious outlook shared by many industry observers amid ongoing economic uncertainty. In such times, households tend to shield their savings, often turning to tangible assets like real estate as a form of preservation and potential gain. As demand for housing climbs, prices in the property market respond accordingly, and Beskrovny predicts a similar dynamic will unfold in the current environment. He points to a scenario where the most illiquid listings could experience price adjustments, but the pockets of the market with strong location advantages will either hold firm or continue to rise, driven by the enduring appeal of well-connected neighborhoods and the practical benefits of proximity to schools, workplaces, and services.
Market observers have highlighted a notable divergence between new construction prices and those on the secondary market, a gap that has become more pronounced as buyers re-evaluate their options. The central bank’s recent data is cited to illustrate how pricing for newly built homes has moved higher, underscoring a widening split with the resale market. This trend is part of a broader recalibration in the housing sector, where developers, lenders, and buyers negotiate terms amid fluctuating interest rates and shifting financing conditions. Such dynamics influence how households plan purchases, borrow, and manage deposits as they consider long-term commitments in a climate of economic flux.
Looking back at the dynamics of mortgage activity in Moscow and the surrounding regions during the prior year, analysts have noted patterns in borrowing behavior that inform expectations for 2024. A substantial portion of households has continued to engage with mortgage products, balancing the lure of expanding their living space with the realities of monthly payments, down payments, and evolving loan conditions. This environment often spurs demand for apartments in desirable locales, where the combination of convenience, accessibility, and investment potential can outweigh the immediate burden of financing. As buyers weigh alternatives between newer developments and established housing stock, the choice frequently reflects personal circumstances, risk tolerance, and time horizons for ownership.
There have also been reports suggesting that resale dealers in Moscow have grown more willing to negotiate, offering discounts or favorable terms to close transactions. This shift in negotiation culture can be attributed to a mix of competitive market forces, inventory adjustments, and the need to secure deals in a landscape where buyer leverage is shaped by financing options and location-specific appeal. For buyers, the implication is clear: while price points on prime properties in excellent locations may stay steady or rise, there could be meaningful opportunities in segments that reflect more realistic pricing, quicker turnover, or strategic incentives. Market participants across the board are watching how the balance between supply and demand evolves, how credit conditions adapt, and how policy signals influence both consumer confidence and seller expectations in the near term.