Announced by Vladimir Putin, the launch of reduced mortgage at a rate of 6.8% when buying housing on the primary market has encouraged potential buyers: they started to review the listings of the buildings in Moscow for a week the figure has doubled. The excitement experienced developers: the projected growth in demand allowed them to again raise prices, though still two weeks ago, the major shareholder of PIK group, Sergey Gordeev was waiting for the falling demand by 70%.In Moscow from 20 to 27 April, the demand for primary housing increased twice in comparison with the same date of 2019. These are preliminary data provided by CYANOGEN on request “b”. By the end of April, potential demand for apartments in new buildings of the capital were 20% higher than a year ago (compared with March, there is still a decrease of 9%). This trend does not correspond to pessimistic expectations of the market: almost two weeks ago at the meeting with participation of Vladimir Putin, the main shareholder of the group PEAK Sergey Gordeev predicted drop in demand in April at 70%. Profile Vice-Premier Marat Khusnullin April 28, said that in the regions it has decreased by 25-75%.However, according to CYANOGEN, a similar decline is observed only in Voronezh (41%). In Yekaterinburg, for example, it is only about 6%, in Rostov-na-Donu — about 12%, and in Chelyabinsk, in General, the demand is growing at 2%. The average for the major cities of Russia in April, demand declined by 3% by April 2019 and 15% by March 2020.Analysts CYANOGEN activity of potential buyers recorded just after 20 April, when the banks have begun to accept applications for obtaining such loans. This was preceded by the order of Vladimir Putin on the government subsidizing interest rates on housing loans for buying housing on the primary market. Later Marat Khusnullin said that the launch of a special mortgage program will allow to attract in the construction of up to 350 billion rubles, the Head of the analytical center CYANOGEN Alexey Popov explains that the current dynamics suggests there is a pent-up demand to purchase housing: the market of clients who could not afford a mortgage at the standard rate of 9% per annum. He adds that “the active monitoring of the market also has long lasting staying home.”Developers in the cities, seeing the interest of buyers, have started to raise prices: so far, however, only slightly — by 1.2%, to 60,63 thousand rubles per sq m (on average), says CEO “the World of apartments” Pavel Lutsenko. He connects this momentum that is with subsidized mortgages: “In the beginning of April, many developers have reduced prices, and at the end again began to increase.” But further price declines, the expert does not wait. He predicted that the number of registered contracts equity by the end of April could be reduced by about 50% in ��Isla for technical reasons: “Developers are actively offering to buy the apartment online, but make deals remotely was ready only those customers, who already saw construction of apartment complexes with their own eyes”.Mr. Popov added that to assess the possible reduction of demand in the primary market is difficult because there is no understanding of the scale of the real falling incomes due to the crisis caused by the pandemic. According to managing partner of “Metrium” Mary Litinetskaya, to adequately assess the situation will only be possible in the fall. Commercial Director of the group “homeland” Ksenia Yuryeva expects that in case of termination of the regime of self-isolation after the may holidays, the market will immediately revive, it will be buyers who during the quarantine were active in the preparatory work.Alexandra Mertsalova
