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Prices to Collapse by 30% — State Duma Says What Awaits the Housing Market
In the near future, apartment prices in Russia will fall by a third from the current level in accordance with market conditions.
According to him, the construction industry is now actively providing various preferential programs and discounts for those wishing to purchase housing. This means that many Russians can buy a square meter much cheaper than six months ago.
At the same time, more and more Russians are refusing bank loans due to high interest rates on market mortgage programs. As a result, those wishing to purchase square meters are guided by the developer's offers.
As a result, developers had to lower housing prices to attract buyers, writes Parlamentskaya Gazeta. According to the agent, apartment prices in Russia could plummet by 30% in the fall due to a sharp drop in demand.