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Stagnation in the residential real estate market in 2020 year is expected in Russia
More than half of the participants in the residential real estate market expect its stagnation in the 2020 year. The PwC consulting company came to such conclusions after a survey. The revival, according to experts, will come in 2021, when the construction of houses according to the old financing scheme will end.
About 14% of respondents expect not only stagnation, but a decline in the housing market next year. It is reported TASS, with reference to the results of the study. Experts also give predictions regarding the possible consequences of switching to project financing using escrow accounts.
Almost a third of respondents believe that the new law will reduce the profitability of development projects, 26% are confident in the consolidation of the main market players, and 19% of respondents in solving the problems of defrauded equity holders. In addition, more than 70% of survey participants forecast a rise in prices for housing transactions. 29% deny such an opportunity due to lower demand for housing.