Any circumstances that interfere with the normal use of real estate can lead to a decrease in its value. The main factors negatively affecting the price of housing for the newspaper “Slovo and Delo” listed real estate expert Konstantin Barsukov.
The expert cited the example of landfills in the Moscow region – “all real estate located in those areas where there were landfills and an unpleasant smell came from them was considered illiquid,” he said. Likewise, natural disasters (for example, if the roads are washed out and the transport accessibility of the object has deteriorated), the construction of large and noisy highways, Barsukov noted.
According to him, the felling of trees, the destruction of nearby parks where families with children walked, and a change in the species characteristics of the apartment also leads to a decrease in the value of real estate. Even a geopolitical factor can affect the cost of square meters, the specialist emphasized: for example, when Crimea became part of Russia, real estate in the country fell in price due to the fall in the ruble exchange rate observed after the imposition of sanctions.
The expert advised when buying an apartment to assess the future of the area and take into account all the risks, but not to despair if a crisis does occur. Selling real estate at a discounted price is not worth it, he pointed out: perhaps, in order for prices to skyrocket, you need to wait not two years, but five years.
Earlier, Russians were warned against buying mortgage apartments. When purchasing such a home, the buyer often has to pay off the seller’s mortgage debt. The risk is that after the loan is repaid, the seller may try to exit the deal.