SECONDARY PRICES IN MOSCOW CONTINUE TO FALL

The secondary real estate market of the capital demonstrates a slow decline in prices. This is happening against the background of rising mortgage rates, due to which potential buyers have suspended the purchase of apartments. The further development of the situation will depend on several factors at once.

For two months in a row, realtors of the capital have been recording a decline in prices on the secondary housing market. At the same time, the April drop in the cost of a square meter occurred for the first time in the last five years.

Most of all, prices have decreased for three- and four-bedroom apartments. Odnushki is expected to have fallen in price to the least extent.

In addition, experts note the possibility of getting a good discount when buying: owners can go for a substantial discount in a situation of the need for a quick sale with low demand. Despite this, the number of such transactions does not exceed 10% of the total.

In the future, experts note that the fall in prices will slow down and will largely depend on both mortgage rates and general demand. The cost of secondary housing can also be affected by the slow, but still more expensive real estate in new buildings. With an increase in primary prices, not all owners will be ready to sell their apartments at discounted prices. In addition, the demand that was "frozen" after raising mortgage rates may soon return, which will also have an impact on the market, RBC reports.