There is light at the end of the tunnel. Some developers are starting to expect housing prices to decline in the coming months. At the same time, fewer and fewer companies expect growth – according to the Developers’ Mood Index, which is at its lowest level since the beginning of the survey. The problem is that this light will soon go out… because the new government also wants to help us.
When observing popular portals with real estate offers, one may get the impression that prices have stabilized and apartments no longer disappear on the day the offer appears. Similarly, developers are no longer increasing the prices of real estate introduced to the market, as was the case just a few months ago.
Have prices reached the demand ceiling, or maybe the market has become saturated?
None of these things, the funds from the “Safe Credit 2 percent” program have simply run out, which means the state does not subsidize mortgage loans for new customers. And those willing to rent an apartment who did not manage to find it do not intend to pay the astronomical amounts for the premises that the sellers are still demanding. So we have a standstill, a waiting time.
To better understand this entire mechanism, let’s move to a small town to the local bazaar.