Rosreestr estimated a decrease in demand for housing in Moscow over the year

Market participants attribute the negative dynamics both to the buyers’ hope for lower prices and to the renewal of the exposition

In the first quarter of 2024, 30.15 thousand transactions in the secondary housing market were registered in Moscow. This figure is 9% less than in the same period last year (33.14 thousand), according to a report received by the editorial office of the Federal Register of the Capital.

According to Igor Maydanov, head of the Rosreestr Department for Moscow, the slowdown in demand can be attributed to the expectations of buyers who hope for lower prices due to the current conjuncture in the real estate market. How the situation will develop further will be clear by the results of the first half of the year, Maydanov believes.

The decrease in the number of transactions in the ready-made housing market is confirmed by Yulia Dymova, director of the Department of secondary real estate at Est-a-Tet. According to her, this is due not only to an increase in mortgage interest, but also to the renewal of the secondary market due to yesterday’s new buildings, which additionally affects price growth.

“The number of transactions has decreased fundamentally because their budget has increased. If earlier people invested in small-sized apartments and studios, today eurodrivers in business class are in demand. This also leads to a decrease in the volume of transactions,” says Yulia Dymova.

The dynamics of the number of registered transfers of rights under contracts for the purchase and sale (exchange) of housing. The year 2024

In March 2024, 11.97 thousand transactions on the secondary market were registered in the capital. This is 12% higher than the result of February this year (10.71 thousand), but 19% lower than March last year (14.78 thousand).

In 2023, 174.95 thousand transactions in the secondary housing market were registered in Moscow. This indicator has become the highest for the year for the entire time of statistics (since 2009).

See also:

  • Rosreestr reported a record for online housing transactions in Moscow
  • “The house.RF” and Rosreestr launched a price index on the market of new buildings
  • Rosreestr has found owners for 7 thousand real estate objects in Moscow

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