Due to the restrictions introduced, there was a slack in the capital’s real estate market for most of the first half of the year. In fact, some activity was observed only in February and March, since in January most market participants were on holidays, and then urban authorities introduced lockdown. From January to June, Rosreestr registered only 43,204 transfers of rights to real estate in Moscow, resulting from housing purchase and sale deals, which is 29.2% less than a year earlier. In June, after almost all lockdown restrictions were lifted, the demand grew, mainly due to “deferred” buyers: in the first two weeks of June, Rosreestr registered 3,393 transfers of property rights to housing, which is 14% more than in the first half of May. Experts predict positive growth dynamics in the second half of the year, when the new business season traditionally begins.
Read more about this and other important events in real estate market in Coldy Real Estate Digest magazine.