In April 2020, the prices for secondary residential properties in Russian cities began to fall for the first time since 2017. This was stated by the Director of the Federal company “Floors” Ildar Khusainov, reports TASS.
According to experts, the cost of “secondary” while declining by 0.1-0.2 percentage points each week. “In the regions of Russia was at a turning point — the average price on the secondary market changed the dynamics from positive to negative for the first time since the fall of 2017,” stated Khusainov.
Negative price dynamics observed, particularly in such cities as Novosibirsk, Tyumen, Yekaterinburg, Nizhny Novgorod, Kazan, Chelyabinsk, Omsk, Samara, Rostov-on-don, Ufa, Krasnoyarsk, Voronezh, Perm, Volgograd, Krasnodar, Saratov, Krasnodar.
the Expert explained that apartment owners agree to discounts because of falling demand for housing. The average discount rate of 4-5 per cent, but in some cases it can reach 25-30 percent. In 2020, the resale is cheaper, says Khusainov.
Earlier in April, the secondary housing market in Russia predicted the fall into a coma. According to analysts, the launch of mortgages on housing under construction at 6.5 percent will lead to a sharp outflow of demand in buildings. The number of transactions in the “secondary” on this background reduced to the minimum.
