Irkutsk
Ulan-Ude

Blagoveshchensk
Chita
Yakutsk

Birobidzhan
Vladivostok
Khabarovsk

Magadan
Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

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Prices for apartments in Russia are reduced weekly

Prices for apartments in Russia are reduced weekly
Photo: pixabay.com

Prices in the secondary real estate market in Russia began to decline every week, starting in April. The average price of apartments has become negative for the first time since the fall of 2017.

As the TASS citing the head of the federal real estate agency Etazhi Ildar Khusainov, over the past 14 days, prices have fallen by an average of 0,1-0,2 percentage points each week. Before that, prices were rising. Far Eastern cities did not fall into these statistics.

Experts see the reason for the fall in prices in restrictive measures in the context of the coronavirus pandemic, a decrease in purchasing power and demand. According to forecasts, this year the “secondary” will fall in price by 5-15% depending on the region, and more than 15% - after the decision of the Central Bank to reduce the key rate.

According to Khusainov, there are already cases when three-room apartments are sold at discounts of up to 25-30%. Discounts for the more popular one- and two-bedroom apartments are 10-15%.

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