Three-quarters (70%) of apartment sellers in Moscow are having difficulty selling apartments due to low demand, according to a study published on June 14 by real estate company Inkom-Nedvizhimost.
According to analysts, buying apartments with a mortgage has become unaffordable for many. At the same time, the number of people wanting to sell real estate is increasing.
At the same time, experts note that, despite low demand, housing prices in the capital continued to rise. From May 2023 to May 2024, the average cost per square meter in Old Moscow increased by 3 percent to 283.2 thousand rubles, and in New Moscow – by 2 percent to 206.6 thousand rubles .
“In the future, a price reduction is inevitable, but it will be gentle, about 1% per month; this is what sellers are psychologically prepared for””, explained Sergei Shloma, director of the “Secondary Market” department of the Inkom-Real Estate company.
Currently, in order not to reduce prices, owners simply withdraw from sale properties that could not find new owners quickly.
Source: Rossa Primavera
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