Russians have cut discounts on apartments at a record

“Floors”: sellers of secondary apartments in Russia are on average ready to give a discount of 2.4 percent

In November 2021, sellers of secondary apartments in Russia more than ever rarely agreed to bargain with buyers, writes “Rossiyskaya Gazeta”. On average, they are ready to give a discount of no more than 2.43 percent, the analysts of the Etazhi company calculated.

The average discount on the secondary market for 11 months of 2021 was 2.6 percent, while in the same period of 2020, it reached 4.6 percent. “The level of bargaining has approached record lows, which means that in the short term, prices for secondary housing in Russia will not decrease,” Tatyana Akhmetdinova, director of the Etazha management department, told the publication.

According to analysts, owners of apartments in Perm agreed to the largest discounts (6 percent on average) in November. In second place are residents of Omsk (average discount – 4.2 percent), in third – Nizhny Novgorod (4 percent). In Moscow, the average discount was 0.7 percent.

“We do not exclude that in early 2022 the situation will begin to change. In January-February, during a period of seasonally low demand, the discount will grow, and the increase in mortgage rates will stimulate owners to increase the discount on their properties, “experts predict.

Earlier, the head of the Real Estate Market Indicators analytical center ( IRN) Oleg Repchenko said that an increase in mortgage rates will lead to an outflow of demand from the “secondary housing” to the primary housing market. State mortgage programs are still in place for buyers of new buildings, so many will abandon the idea of ​​buying ready-made apartments, the expert warned.