Secondary prices will soar instantly, the expert warned

Prices for secondary housing in Russia may grow sharply in the event of a reduction in the key rate, warns realtor Yulia Yusova.

The key rate at the level of 14% may remain until about March, the Fifth Channel quotes Yusova. At the same time, buyers have already adapted to the high cost of loans.

"Our people get used to everything, and even with the mortgage rates that are now on the market, it's from 17%, we have quite a lot of demand for mortgages and for the purchase of real estate," Yusova said.

She noted that seasonal demand is continuing now, and apartments on the secondary market are being bought quite actively. At the same time, prices are rising moderately, since mortgages remain expensive.

"If people want to think about buying apartments on the secondary market, I would recommend that they still deal with this issue now at such a mortgage rate, because if the rate is lowered, then prices for the secondary will soar instantly," the realtor emphasized.