Developers and experts expect housing prices to rise by another 5% before the New Year. In December 2021, another jump in demand for real estate may occur, Irina Dobrokhotova, managing partner of Dombook, chairman of the board of directors of Best-Novostroy, told Izvestia.
According to Andrey Kolochinsky, Managing Partner of VectorStroyFinance, amid news of a new strain of coronavirus, stock markets began to decline, followed by oil prices. If this trend continues, and the national currency becomes even cheaper, people will start buying real estate, as is usually the case in such situations, he said. Expectations of growth in mortgage rates in the near future will also boost consumer demand. In addition, December is traditionally an active month in the real estate market, said Andrei Kolochinsky.
“Rush demand can provoke a new rise in real estate prices in large cities – by the end of 2021, average prices for new buildings may rise up to 5%,” said Yana Glazunova, CEO of VSN Realty.
The traditional pre-New Year surge in demand, together with the desire of Russians to have time to buy housing at more favorable mortgage rates, can lead to an increase in prices for liquid projects in large cities by 5-6%, agrees the general director of the development company Marmax, Yuri Yurov.
Read more in the exclusive material from Izvestia:
“Every now and then at home: developers are waiting for a 5% rise in housing prices before the New Year”
#Experts #predicted #rise #housing #prices #Year