Impoverishment to level 90 named condition for the collapse of housing prices in Russia

Coronavirus and the measures imposed for non-proliferation will not lead to the collapse of the cost of housing in Russia. But in the current economic conditions, prices for apartments may be reduced to the level of at least a year and a half ago. This is stated in the forecast published on the website of the analytical center “Indicators of real estate market” (IRN).

the Mode of isolation and the actual stop of the economy, even for a month will not pass without a trace, experts admit. “Probably 2020 will be the year of the beginning of the next global economic crisis, and in Russia the situation greatly complicates the pre-quarantine the collapse of oil prices and the devaluation of the ruble, they said. — If the forecasts come true, the fall in the welfare of Russians will be even more rapid than in the previous crisis.”

But the decline in the cost per square meter of housing in half to two times is possible only if the total impoverishment of the citizens, as in 90-e years. Such a scenario analysts say is unlikely. They believe that the Russian authorities have amassed enough money to support the economy over a long period.

Earlier in April, Russia has promised to rebound to pre-crisis prices. According to the observations of realtors, currently due COVID-19 is observed a temporary cooling of the property market. Developers have to keep prices down so as not to scare off buyers.