experts told what will soon happen to the real estate market

At the beginning of 2024, the Russian real estate market faced a sharp drop in prices, which was the result of tightening mortgage lending conditions introduced at the end of 2023. The Central Bank of Russia decided to increase the key interest rate to 16.7% for new buildings and to 16.9% for secondary housing. This increase was also accompanied by a change in the conditions for the down payment, which was increased from 20% to 30%. Such measures were a serious obstacle for potential buyers, and in February 2024 they felt the consequences – property values ​​fell by approximately 10%.

Real estate experts predict that by the end of 2024 or the beginning of 2025, prices could fall by another 30-50%. This decline will be uneven and will affect different market segments differently….