experts told what will soon happen to the real estate market

The Russian real estate market experienced a sharp drop in prices at the beginning of 2024, caused by tightening mortgage lending conditions at the end of 2023. The central bank raised the key rate to 16.7% for new buildings and 16.9% for secondary housing, increasing the down payment from 20% to 30%. This was a major setback for buyers, who lost about 10% of property values ​​in February 2024. Experts predict a further decline in prices by 30-50% by the end of 2024 – beginning of 2025, unevenly affecting various market segments.

Despite a 20% decline in demand nationwide and 26% in the secondary market, prices remained stable. This is explained by the expectation of a further fall in prices by sellers, inflated prices on the market and the sale of real estate at prices below market prices.

In the spring, sellers began…