In May, the secondary housing market in the Russian Federation began to stagnate in value and supply

In May, the secondary housing market in millionaires began to stagnate in value and supply. This was reported to Izvestia by the press service of the Yandex Real Estate service.

"The cost per square meter of ready—made housing increased by 0.2% on average among millionaires, to 142 thousand rubles, which can be considered stagnation. The stagnation of the median price per meter was accompanied by a slight decrease in supply — by 0.7% per month on average in all million-plus cities," the service's analysts explained.

Perm became the leader in the growth of the cost per square meter per month among millionaires (+2.2%, up to 108 thousand rubles), Moscow was in second place (+1.5%, up to 364 thousand rubles), Voronezh was in third (+1%, up to 107 thousand rubles).

The price dynamics close to stagnation (fluctuations from -0.5% to +0.5%) in the secondary market was recorded in nine of the 16 Russian megacities — in Kazan (+0.3%, up to 186 thousand rubles), Krasnodar (+0.3%, up to 123 thousand rubles), Yekaterinburg (+0.2%, up to 125 thousand rubles), Chelyabinsk (+0.2%, up to 100 thousand rubles), Nizhny Novgorod (0.0%, up to 139 thousand rubles), Volgograd (-0.2%, up to 96,000 rubles), Omsk (-0.3%, up to 106 thousand rubles), Krasnoyarsk (-0.3%, up to 122 thousand rubles) and Rostov-on-Don (-0.5%, up to 123 thousand rubles).

"At the end of spring, the secondary market moved to stagnation after the activity of the previous months," Evgeny Belokurov, commercial director of Yandex Real Estate, explained to Izvestia.

The expert noted that some market participants traditionally reduce their activity in the summer, and also expect the Bank of Russia's key rate decisions. According to the expert, this is the main event that many experts expect in the coming months. It clarifies that even a softening of the regulator's rhetoric and hints of an imminent rate cut may lead to increased interest in the market. However, on the eve of the key rate meeting, it remains only to observe the decision of the Bank of Russia.

The cities with the most expensive square meters on the secondary market remain Moscow (+1.5% per month — up to 364 thousand rubles per square meter), St. Petersburg (+0.8% - up to 215 thousand rubles per square meter), Kazan (+0.3% — up to 186 thousand rubles per square meter), Nizhny Novgorod Novgorod (0.0% — up to 139 thousand rubles per square meter) and Yekaterinburg (+0.2% — up to 125 thousand rubles per square meter). "Squares" of less than 100 thousand rubles in the secondary real estate market of millionaires are sold only in Volgograd (-0.2% — up to 96 thousand rubles per square meter).

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