This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
Experts expect a fall in housing prices in Russia
Coronavirus epidemic could lead to falling prices in the real estate market. Experts expect this to happen in April. Most prices will fall in low-income regions.
As reported "News", in such entities the cost per square meter will drop by 20%, in Moscow and St. Petersburg - by about 10%. However, as soon as the pandemic declines, prices will again begin to rise. This can happen, according to market experts, by the end of 2020.
Due to the situation with coronavirus in all regions of Russia, the demand for real estate purchase has fallen significantly, in these conditions, sellers lower prices and try to get to a deal faster until the situation worsens. Previously, experts switched to project financing for housing construction expected a jump in prices in about 25%. However, now other factors are affecting the market more.
In January 2020, Deputy Prime Minister Yury Trutnev declared an increase in value square meter in new buildings in the regions of the Far Eastern Federal District. This was caused by increased demand for real estate after the launch of the Far Eastern Mortgage preferential program, under which a housing loan was issued at 2% per annum.