Over the year, demand in the secondary housing market in Russia decreased by 41.3%. The reason for this dynamics is called the growth of supply, TASS reports with reference to the words of the head of the commercial department of Yandex Real Estate Evgeny Belokurov.
Demand has stagnated in recent months. At the same time, as of March 2023 in Moscow and St. Petersburg, it decreased by 21.2% over the year. In the rest of Russia, demand decreased by 41.3% over the same period, Belokurov said.
It is noted that prices in the secondary market of the Russian Federation have fallen into stagnation since the beginning of the year, and the trend may continue further. Against this background, apartment owners have become more willing to accept discounts. If earlier the discount did not exceed 3% of the value of the object, now it is 5-10%.
At the same time, depending on the type of lots, the dynamics differ: in studios and odnushki, the drop was 2% (to 303.5 thousand rubles per square meter), and two-room and three-room lots fell in price by 5% (298 thousand rubles).
For example, in Moscow, prices for ready-made housing have become lower due to a lack of demand – buyers have turned their attention to the primary market, as more attractive conditions for preferential mortgages and other promotions have appeared there.
The increase in supply over the past year also had a significant impact on the situation. In both capitals, the average growth rate was 42.4%, in other cities of Russia – 28.5%.
Message In Russia, the demand for “second hand” has fallen by 41% first appeared on the Realty Times.