Deputy Chairman of the Board of Sberbank Tsarev: housing prices in Russia will not decrease in the next two years expect a decline in house prices in the coming years. He expressed this opinion in an interview with Komsomolskaya Pravda.
He suggested that there are long-term trends on the market that cannot be reversed in a short time. “For example, to instantly increase the supply by quickly building more houses,” Tsarev said.
According to the expert, the current situation was established in 2016-2017, and major changes should be expected in two years. The current proposal was laid down in 2016-2017, Tsarev noted. The specialist believes that major changes should be expected in two years. In his opinion, by this time the situation will stabilize: there will be not so much demand and not so much supply. At the same time, the expert noted, prices will not change so dramatically, but they will decline or, on the contrary, will rise, is still unknown.
Tsarev noted that Sberbank does not see a deterioration in the condition of borrowers and consumer lending does not need cooling. And the level of arrears on mortgages and consumer loans remains low. “Our citizens treat mortgages very responsibly,” the expert noted.
Earlier it became known that the price of housing in New Moscow has broken a psychological mark. At the end of October 2021, the weighted average price per square meter of housing under construction in New Moscow reached 201 thousand rubles, exceeding the figure a year ago by 25 percent and breaking through the psychological mark of 200 thousand rubles. The average price of a new apartment in Troitsky and Novomoskovsky districts is 9.9 million rubles.