OREANDA-NEWSHousing prices in Russia against the backdrop of the coronavirus pandemic may fall by 5-15% by the end of 2020.Such estimates are cited by Otkritie Research experts (Otkritie Bank’s analytical department), the credit institution’s press service said in a statement.

"By the end of 2020, due to the coronavirus pandemic, housing prices in Moscow and Russia, depending on the timing of market recovery, could fall by 5-15%", the report said.

Moreover, according to experts, in the baseline scenario, at the recovery stage after quarantine, average sales growth rates can be expected. With such a development of events, housing prices in the capital in 2020 may fall by 5-10%, and in Russia as a whole - up to 5%. The mortgage market in this situation may show a decrease in the issuance of loans by 20% compared to 2019.

At the same time, stimulating demand by developers and the state through subsidizing mortgages, soft loans, installments and other measures may be a supporting factor in the real estate and mortgage market, we are confident in Otkritie Research.