The future of prices for secondary housing in Russia is predicted

In 2024, the cost of housing on the secondary market Russia will decrease, predicted the director of the “Secondary Market” direction agency “Inkom-real estate” Sergei Shloma. His words are quoted by the publication Life.

According to the realtor, prices for finished housing have not yet fallen due to a lack of supply against the backdrop of high demand and an increase in the number of transactions in the previous quarter, as well as due to the fact that some owners, in conditions of uncertainty, refused to sell properties. Interest in purchasing a secondary property has also not yet begun to decline, however, the expert clarified that the majority of buyers on the market are those who need to solve their housing problem and improve their living conditions.

Shloma noted that weakening demand is inevitable, and next year it will fall about 30 percent below normal. After this, he predicted, pent-up demand will traditionally begin to form, followed by a new rise.

As for prices, after the fall in interest in buying housing, they will go down, however, according to Shloma, a sharp decrease in prices should not be expected, including due to the obvious shortage of supply. “Objects will be added to the display gradually, and sellers need time to navigate the market and set current prices. According to our forecasts, until the end of this year and at the beginning of next year, the cost of secondary lots will remain at the same level, a decrease is possible no earlier than the spring of 2024,” the expert said.

Previously, Sales Director of the Etazhi real estate agency network Sergey Zaitsev came to the conclusion that prices for finished apartments in Russia started to decline for the first time since December 2022.

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