experts told what will happen to the real estate market

At the beginning of 2024, the Russian real estate market experienced a significant decline in consumer activity, which caused an unprecedented drop in prices. The main reason for this was the tightening of mortgage lending conditions caused by the events at the end of 2023.

The Central Bank of Russia raised the key rate in order to combat inflation, which directly affected the cost of borrowed funds for the population. As a result, the average mortgage interest rate reached 16.7% for new buildings and 16.9% for existing homes, which became a serious obstacle for many potential buyers. In addition, the minimum down payment on a mortgage was increased from 20% to 30%, which further narrowed the circle of potential borrowers.

In February 2024, the market reacted to this by dropping prices by about 10%. However,…