In August, the number of mortgage applications fell by half compared to the average monthly result for the first half of 2024.
In the Moscow region of Russia, the demand for housing in new buildings is falling for the second month in a row after the end of the preferential mortgage program in the Russian Federation and changes in family conditions. This was reported by the Russian edition of Forbes.
It was noted that according to the Dataflat service, in August in this region (Moscow, New Moscow and the Moscow region) only 8,001 equity participation agreements (EPA) were concluded, which is 28% less than the result of July and 57% more lower than in August. last year.
Housing sales fell the most in New Moscow in August: 1,507 contracts were completed (minus 41% per month and minus 56% per year).
According to another Russian service, CIAN, in August 2024, 8,000 transactions in apartments and apartments in new buildings were registered in Moscow and the Moscow region, and a decrease in sales was recorded by 28% month- month-on-month and 57% year-on-year.
According to analysts, such sales volumes in August were the worst for this month since 2015. In absolute terms, the indicators of May and September 2022 were repeated. At the same time, the monthly decline rate slowed in July, demand fell by 38%.
It is noted that the decrease is due to mortgage transactions: in August, the number of mortgage applications decreased by half compared to the average monthly result for the first half of 2024.
As experts say, at the same time, there is a high demand for luxury housing in Moscow, which will not be hindered by the lack of favorable programs or high mortgage rates in the market. As for premium projects, they are still in demand.
We remind you that Russia recorded the largest increase in wage debts in 11 years.
Source: korrespondent
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