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RESIDENTIAL REAL ESTATE IS GETTING CHEAPER IN RUSSIA

... 21.8%. The decline in property prices has been observed for the first time since 2020. A slight drop in prices (just over 3%) for secondary real estate is also observed in Nizhny Novgorod - earlier, the real estate prices increased there by 21.34%. Real estate objects are getting cheaper in Kazan (almost 3%), in Perm and Samara (almost 2.5% each). However, in Moscow and St. Petersburg, the cost of housing continues to grow, although not as significantly as before - by 0.05% and 0.24%.

Demand for apartments in Russia increased by 15%

... population in terms of real estate acquisition. The trend is especially noticeable in large cities - experts attribute this phenomenon to the desire to preserve savings and fix mortgage rates that have not risen even higher. Russians began to actively buy real estate against the background of the aggravated geopolitical situation. The demand for housing in large cities has grown by 10-15%, Izvestia reports. At the same time, the mortgage rate reached 14%, and housing prices continue to grow against the backdrop of the increased demand. According to experts, the situation may lead to the fact ...

CIAN experts: renting apartment has become cheaper than mortgage

... 67% of the mortgage payment. Prior to this, renting a flat was less profitable, the average rate was 80% of the mortgage. It has become much more profitable to rent rather than to take mortgage in Voronezh, Krasnodar, Perm, Omsk. Despite the rise in housing prices, CIAN believes that it is easier to buy now than in 2015. However, 2019 was the most profitable year for buying real estate. At the moment, a family with two working people in million-cities needs 4.7 years to purchase an apartment of 54 sq.m. However, this condition is valid if the housing is purchased on the secondary market, and all income for almost 5 years ...

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