Because of the banking crisis of real estate in Moscow fell by 10-15%

Posted on Apr 20, 2012

Housing market in Moscow decreased by 10-15% as a result of problems in the banking sector, said at a news conference in RIA “News” chairman of the board of the National Association of Mortgage Market Vladimir Ponomarev.

“In Moscow, the most widespread information about the difficulties in the banking sector. As a result of the decline in prices in the housing market was 10-15%,” – said Ponomarev.

According to some, after the cessation of capital banks customer service Guta Bank panicked and started selling off all the existing assets, including real estate. In this case, the finished and unfinished construction, investment contracts, pits and other over-the-counter at a discount of 20-30%.

According to experts, banks began to sell all of the existing assets in droves, trying to create a liquidity reserve. Among the assets of Russian banks for sale, there were also real estate, in which investments have been made with a view to profit.

Ponomarev noted that the housing market in Moscow in the past 4-5 weeks experienced a difficult period. Especially considering the fact that in 2003 the price of Moscow housing market grew by 40% and reached for certain types of real estate 18 000 dollars per square meter. meter. For comparison, the average cost of housing in the regions of Russia is estimated at 350-400 dollars per square meter. meter, and the sales price – 550-600 dollars.

Representative of the association at the same time did not predict what impact the unstable situation in the banking sector on the dynamics of mortgage lending in Moscow. “We have to wait a few weeks until the nervousness in the housing market will fall,” – said Ponomarev.

In his opinion, the increase in the cost of housing in Moscow contributed to a significant burden of investors, which are set by municipal authorities in the allocation of land for construction.