The share of urgent apartment sales has reached 30%

In June, the share of urgent apartment sales reached 12% of the total volume of offers on the market in Moscow and the Moscow region, and in Russia as a whole — about 30%. Evgeny Shavnev, General Director of the real estate investment company FLIP LLC, told Izvestia about this.

Less than half: 6 of the 10 largest banks lowered mortgage rates in June

But they're still a barrier, and the payouts are falling.

A year earlier, the share of such sales did not exceed 8%. This is the highest figure since 2022, when Russians massively relocated to other countries.

"In 67% of cases, such apartments are mortgaged or their owners are burdened with other loans. General financial difficulties are also often the reason for an urgent sale. Thus, the reason for the sale is financial difficulties and an increased payment burden, that is, the client realizes that he cannot cope with payments and decides to get rid of the property by paying off the debts in full," he said.

In addition, the growth in the share of such sales was facilitated by a law passed last year, which allowed the sale of mortgage real estate independently.

"Most often, economy and comfort class housing is put up for urgent sale, the cost of which was 6-7 million rubles at the purchase stage and currently (at the sale stage) is more than 12 million rubles. The client uses these funds to pay off the remaining debt obligations and tries to purchase housing with the remaining funds, the average amount of which does not exceed 8 million rubles," the expert added.

Read more in the exclusive Izvestia article:

Sales culture: the number of urgent apartment sales increased by 30% in Russia