Mortgage rates fall, housing prices rise

Real estate experts have offered a disappointing forecast: apartment prices in new buildings will rise by 10% this year, and on the secondary market, by 6%.

According to Alexei Popov, head of the CIAN analytical center, the price hike will become noticeable as soon as this spring – the peaks of business activity and demand for houses and apartments usually coincide in the fall and spring.

In especially popular cities and areas, prices in new developments can increase by 15%. Analysts blame inflation, the use of escrow accounts (as the real estate market is transitioning from cooperative construction co-financed by future owners to project financing), and lower mortgage rates.

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