The analyst gave a forecast about the future of real estate prices in Russia

The market will soon bottom out

After the beginning of partial mobilization, it became known that Muscovites began to get rid of housing en masse. In particular, the number of applications for the urgent sale of apartments in the secondary market of the capital has tripled. Real estate market expert, general director of Relight-Nedvizhimost Konstantin Barsukov believes that by the end of autumn the real estate market will reach the bottom of prices at a level of minus 20-25% from January.

According to the expert, we can talk about the saturation of the secondary market with offers from the beginning of June. Barsukov stressed that over the past two weeks he has not seen any saturation of the market with new announcements. He suggested that they may occur when the old ones leave, but the market continues to fluctuate in the same range.

As the specialist noted, since the announcement of a partial mobilization, prices for the secondary have fallen, but their fall is not at all 40 or 50%, as many analysts say. Barsukov explained that the fall in prices is primarily due to the fact that people initially put up apartments for sale at inflated prices, and now they have begun to sharply lower them to the market price. He added that “a trigger has occurred.”

In addition, according to the analyst, some people decided to leave the country, so they immediately put up apartments at low prices, and this dragged the market along, thereby taking it away from the inflated prices in ads to the real situation. Barsukov stressed that the downward trend in prices has been and remains, and prices have fallen by the amount that they should have fallen according to forecasts.

The expert noted that the situation on the market with new buildings is the same as with secondary objects, that is, there is a certain increase in the number of announcements, but it is not clear whether it is associated with the announcement of partial mobilization. The analyst doubted that the developers were “holding” the product in order to throw out new listings now. He admitted that the developers were denied deals, but in general everything was more or less smooth, there was no serious reaction.

As for the rental of real estate, according to Barsukov, the number of ads increased by about 15%, while prices fell by an average of about 10%. However, you need to understand that this is not a general drop, because if you look at the districts, the situation will be ambiguous, the expert specified. The analyst concluded that the rental property situation is a local thing.

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