Will apartment prices fall to 2018 levels? Experts told what will happen to the real estate market

At the beginning of 2024, the real estate market in Russia faced an unprecedented decline in demand for housing, which, in turn, led to a sharp drop in prices.

The main reason for this phenomenon was the tightening of mortgage lending conditions, which significantly limited the opportunities for citizens to purchase housing. As of February, property prices fell by about 10%. Experts predict that by the end of the year this decline could reach 50%, which indicates a deep crisis in the market.

The situation on the real estate market worsened at the end of 2023, when the conditions for preferential financing for new buildings worsened significantly. The down payment on mortgage loans increased from 20% to 30%, which made buying a home even less affordable for most Russians.

In January 2024…