IRN: at the beginning of 2022, the onset of stagnation in the Moscow housing market is likely
In 2022, stagnation is likely and even a slight rollback of real estate prices back – the market is very overheated, according to the materials of the Real Estate Market Indicators (IRN) analytical center provided to Lente.ru.
While there is demand in the market – people mostly buy apartments “for living”, not the most expensive and not the cheapest, experts say. According to them, in November a square meter of “secondary housing” in Moscow has risen in price by 0.9 percent, to 241.14 thousand rubles (excluding offers in the annexed territories).
“Mortgage and ordinary for” secondary housing ” alternative deals are still keeping the demand for housing up to date. Most likely, the situation will not change until the New Year, December is traditionally the most active month in the real estate market, “analysts predict.
In the capital, there are fewer and fewer housing options available even for mortgages, the IRN states. The rise in the cost of loans against the background of the increase in the key rate of the Central Bank also puts pressure on prices. However, experts point out that the level of loan rates is still relatively attractive for buyers, especially since many of them managed to get approval for a mortgage before the last rate hike.
Earlier it was reported that in November 2021, sellers of secondary apartments in Russia, as never before, they agreed to bargain with buyers. On average, they were willing to give a discount of no more than 2.43 percent.