In the St. Petersburg real estate market, there is a decrease in prices for secondary real estate market

In the St. Petersburg real estate market, there is a decrease in prices for secondary real estate market

Since the beginning of July, there has been a decline in prices for secondary housing in St. Petersburg, which, according to forecasts, will continue until autumn at a rate of about 1% per month. This trend should not last long.  

Alla Shinkevich, CEO of Nevsky Prostor, compared the current situation with periods when mortgages were unavailable or had high rates. Despite the difficulties associated with high mortgage rates, the market remains active, and transactions are concluded more often without using a mortgage.

"Buying a secondary housing always remains a balanced decision. People will carefully consider their steps, especially when it comes to taking out a large mortgage for 30 years at high interest rates," she stressed.

Alla Shinkevich noted that buyers adapt to new conditions, the process of getting used to it will take about six months. In the market of new buildings, it is expected that developers will offer alternatives to the previous preferential loans. While prices are temporarily declining, the real estate resale market remains active, and buyers take into account their financial capabilities and strategic plans when choosing a home.

Source: apimarket.ru