Let's try to figure out what will happen in the real estate market with the help of experts. What to wait for what to get ready for what to count on those who planned real estate operations for the near future?
We addressed these and other issues to the Director-General of the Center for Real Estate and the Rights of Lights Samara Yulia Ovechkin.
- The Central Bank completed the rate reduction cycle, and in the long run, the mortgage will be expected. This means that in the near future rates on loans both in the secondary market and in the framework of the preferential program will be raised.
Recently, the mortgage rates more influenced the state prefabricated program of lending when buying new buildings from developers. Interest rates on the mortgage decreased, which caused the increase in mortgage lending and led to an increase in the cost of housing.
What will happen to accommodation prices now? In the short term, the impact of increasing key rates up to 4.5% to the real estate market will be insignificant, since the main driver of the mortgage market is a preferential program. The demand for housing in the Samara region is still preserved, the prices for secondary housing ceased to grow, and the cost of square meters of housing under construction is growing in geometric progression.
Expect an explicit reduction in the cost of housing in the first half of the year is not worth it. If in the second half of the year there will be a tendency to decay in demand, then prices will be adjusted.
After July 1, 2021, a decision on a preferential mortgage will be made. In case of renewal of the state program, we will see further overheating of the real estate market.
If the program in the first half of the year is completed, the developers will be forced to stop the price increase.
The decision of the Central Bank in the near future will lead to cooling demand in the real estate market and to reduce prices. Now the market is overheated as much as possible: new buildings reached a record value, because of this, the goal of increasing the availability of housing for the population was completely leveled, since due to the increase in prices, the benefit from low rates disappeared.
If you are planning a real estate purchase using mortgage lending, you should hurry until the rates remain at the same level.
Since the reduction in the cost of housing will occur slowly, and the rates will rise in the near future, you will be forced to buy housing at high prices and high rates. In case you plan to buy housing using your own funds, you can not hurry and wait for price adjustments.
Contact "Samara's lights", we can quickly and at favorable rates to issue a mortgage loan. Consult for free on any housing issue.
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