According to the results of May 2020, apartment prices in the secondary market fell in 48 cities of the 70 largest in Russia. This is stated in the materials of the portal “World of apartments”, received by the editorial office of “Lenta.ru”.
The square meter of the “secondary” per month fell by an average of 0.5 percent, the total cost of an apartment fell by 1 percent in the country, analysts calculated. Most noticeably, housing prices fell in the Leningrad Region (minus 4.3 percent), Moscow Region (minus 4 percent), Arkhangelsk (minus 3 percent), St. Petersburg (minus 2.8 percent) and Yekaterinburg (minus 2.3 percent) .
In Moscow, the average price of an apartment on the secondary has decreased by 1.2 percent and amounted to 13.2 million rubles, dropping below the cost of new buildings.
“In May, compared with the previous month, the decline in prices on the secondary has slowed down a bit. However, it is unlikely that immediately after quarantine ends, prices will return to their previous level. When deferred demand is realized, a slight rebound is possible, but this is clearly not enough for a steady trend. And the fact that the income of most buyers has now fallen is beyond doubt, ”experts conclude.
Earlier in May, analysts explained the inevitability of lowering housing prices in Russia. The fall in the cost of apartments will occur both in the primary and secondary markets, experts say. Its size can reach 30 percent.
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