Real estate prices in Simferopol have fallen by 20% since the beginning of the year: No demand
Since the beginning of the year, real estate prices in Crimea have fallen by 19%, the reason being low demand. This was stated by realtors interviewed by the Krymskaya Pravda newspaper.
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“In January of this year, the price of real estate remained unchanged. In February, the cost per square meter fell sharply by 14%, and in March there was a further decline of 3%. April showed no changes, and already in May the price of housing decreased by another 2%. Let's sum it up and we get that over the current year the price of real estate has fallen by 19%. As you understand, there is a direct relationship between demand and price. Property values are falling because there is no demand. Why it is not there is a debatable question. In my opinion, the only real problem affecting the growth of demand is the lack of a solvent population. People simply don’t have money,” said Oleg Sikorsky, an analyst at the REM Navigator trading system (Simferopol).
“Compared to January of this year, real estate prices have fallen by 15 percent,” says Vyacheslav Nikonov, director of the KTN real estate agency (Simferopol), in turn.
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