REAL ESTATE MARKET TRENDS IN THE SECOND QUARTER OF 2022

On the territory of Greater Sochi there is almost no dynamic in all real estate classes for the second month in a row, apart from small changes that regard single projects. According to analysts of specialized property developer (SZ) ""Sochi-Park Pyat Plus"", seasonal patterns exert a strong influence on the present state of the market as well.

Due to the significant reduction of the key rate of the Bank of Russia and the resumption of mortgage programs with attractive terms, an increase in demand for business-class and economy-class real estate is expected from now on. A very narrow category of high-income buyers demonstrates a certain interest towards the premium segment due to restrictions on the purchase of foreign assets.

Notwithstanding all the external factors, during the second quarter of 2022 the MANTERA Seaview residence project showed the growth in sales of properties with prices +30%, which, against the background of general stagnation, attracted further interest towards the project, increased the demand, and motivated buyers to complete transactions.