Experts in Moscow real estate market have stated that prices for affordable housing in Moscow have stopped falling, Interfax news agency reported on Tuesday.
According to analysts from a Russian real estate company, this is due to the fact that sellers of housing in this category almost ceased to provide discounts on the apartments.
“If in the spring of last year more than 90% of objects worth up to 5 million rubles were sold at a discount (an average of 15%), now these are single transactions. The average selling price of such objects has already ceased to decrease”, the report said.
At the same time, there is a sharp jump in demand for housing worth no more than 5 million rubles, which over the past two years has increased by 50%. While the share of affordable housing in the supply for the period from 2016 to 2018 has more than halved, amounting to only 3%.