Will The Prices Of Apartments In New Buildings Go Down?

A modern kitchen with stainless steel appliances and marble countertops

Weekly magazine “Arguments and Facts” No. 28. Residential cargo 10/07/2024

There is no longer a mortgage with state support for a new building. Maybe housing prices will finally come down?

Пойдут Ли Вниз Цены На Квартиры В Новостройках?

– Since July 1, the mortgage with state support, which allowed to buy primary housing on credit at 8%, has ceased to be valid. At the same time, few people are ready to borrow at 18-20% now,” says realtor Roman Poruchik. – But do not expect a sharp decrease in the cost of new buildings. Most likely, we will see an adjustment in prices for apartments for which developers have made a mark-up in the wake of the consumer hype. Such objects can become cheaper by the amount of the margin, and in some projects it reached 10-15%.

They will not receive mass discounts. Since the demand for the “primary” has already begun to decline, developers will begin to point to offer apartments at a bargain price. Lenders will also make changes to mortgage programs. When new interesting offers appear, sales will stabilize to the previous level. This could happen as early as this fall.

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