Kazan among the cities where prices for secondary housing fall the most since the end of March

In Kazan, the average offer price on the secondary real estate market has decreased by 4,2% since the end of March. Such data is provided by TASS with reference to a study of Mir Kvartir portal.

The average cost of an apartment in the capital of Tatarstan is 7,03 million rubles, one square metre — 139,6 thousand rubles. In addition to Kazan, secondary housing fell the most in Sochi (-11,8%), Krasnodar (-8,6%), Tyumen (-8,6%), St. Petersburg (-6,4%), Moscow Oblast (-5,5%), Rostov-on-Don (-5,2%), Nizhny Novgorod (-4,3%), Samara (-4,1%) and Vladivostok (-3,8%). Throughout the country, its price decreased by 1,1%.

According to the director general of Mir Kvartir portal, Pavel Lutsenko, many owners of multi-room apartments and luxury real estate have withdrawn their objects from sale. This happened because due to the lack of an affordable mortgage, it is difficult to sell them without big discounts. Buyers are found only on relatively cheap objects that can be purchased without applying for a loan.

According to another study, in the first quarter of 2022, secondary housing in Kazan rose in price by 12%. The average cost per square metre in such apartments at the end of the quarter was 123 137 rubles.