The number of real estate transactions in the first quarter of 2024 fell by 36%. The decrease was the maximum in recent years: the traditional drop in demand at the beginning of the year was complemented by the factor of protective mortgage rates.
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In the first quarter of 2024, the number of real estate transactions in Russia decreased by 36% compared to the fourth quarter of 2023. RBC writes about this with reference to analytical data from Cian.
In the first quarter of 2024, 704.5 thousand real estate transactions were completed. In the fourth quarter of 2023, there were almost 1.1 million such transactions. The result for the first quarter of 2024 was the worst since 2018.
The drop in demand was affected this year by the low base effect; The number of transactions was also affected by protective mortgage rates, analysts said.
Author:
Kirill Bilyk
Source: RB
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