Real estate prices in the country will further stabilize, and the probability of their decline is low. This assessment was given by the head of the rating agency Expert RA Marina Chekurova in an interview with TASS .
According to her, even in the conditions of the predicted decline in demand due to high rates on market mortgages, there will not be a sharp collapse in prices for primary housing.
“Rather, the market is expecting some stabilization,” the expert is convinced.
The reason for this is the reduction by developers of the volume of new projects in anticipation of the termination of the preferential mortgage program. This will prevent overstocking of the market and, accordingly, a significant drop in housing prices.
Before this, Russians were told that a repeat of the Chinese scenario in Russia was unlikely. Unlike China , where housing is of an investment nature, in the Russian Federation it retains a utilitarian function. Russians really need new square meters, while in China more than 90% of the population already owns housing, which reduces demand.
Earlier, the State Duma proposed introducing a new mechanism for housing loans.