Apartments in Russian cities fell due to the regime self-isolation

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www.vsyako.netPhoto: Alexander Kazakov / “Kommersant”

By the end of may 2020 average cost per square meter of secondary housing in Moscow and Leningrad regions and 129 largest Russian cities (with population from 100 thousand people) was 68.4 thousand rubles. This is stated in the materials of CYANOGEN, is provided “Tape.ru”.

Over two months of action in the country of a mode of isolation, the value “square” secondary apartments fell more than 7 percent, estimated by experts. “The restrictions have significantly reduced the demand on the real estate market, which led to the adjustment of prices”, — they explain.

The main decrease of prices was observed in major cities with a population of a million people. In may 2020, the average price of square meter in them stood at 88.9 thousand rubles (minus 6.4 percent for the two months of isolation). Separately in Moscow and St. Petersburg regions (including region) “square” fell over a period of quarantine 2.9 percent (up to 130,4 thousand rubles).

In cities with population from 500 thousand to 1 million, the average price of secondary housing grew by 2.4 percent. Experts attribute such multidirectional dynamics with more restrictions and high penalties in the period of self-isolation in most major cities, where it recorded the largest number of cases of coronavirus. This is reflected in the behaviour of owners and purchasers, postpone the transaction.

Earlier in may, analysts explained the inevitability of the decline of housing prices in Russia. The fall in the value of apartments will occur on both the primary and secondary markets, according to experts. Its size can reach 30 percent.

Video, photo All from Russia.

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