The dollar exchange rate continues to remain unstable at present, which can have an impact on various sectors of the economy. That is why it is important to familiarize yourself with the current situation in the foreign exchange market before deciding to buy real estate.
Real estate price situation
Those who want to buy real estate in general can still breathe easy: the peak of the crisis has passed, and after 2014-2016, the dollar's position against the ruble remains practically unchanged. Minor jumps from side to side are periodically observed, but experts assure that an equally strong fall in the Russian currency is no longer expected, and the Central Bank is constantly taking effective steps to strengthen the ruble.
One way or another, it is difficult to dispute the impact of the current dollar and euro exchange rates on the country's economy as a whole. The import and export of various resources, especially oil products, with the use of foreign currency can lead to a reduction in the state budget, which in turn leads to instability within certain economic spheres, one of which is the real estate market.
The construction and sale of new housing is one of the main directions of state and regional policy, on the efficiency of development of which the stability of the economy in all regions and the possibility of a more favorable distribution of the state budget depend. Thus, a reduction in the cost of expanding the real estate market leads to an increase in the cost of the latter.
Over the past two years, the situation on the real estate market has been characterized by experts as “volatile stability”. This means that prices remain at approximately the same level or a slight increase within inflation. Nevertheless, the market remains sensitive to various macroeconomic factors, and at certain moments, more significant upward or downward jumps occur, which are subsequently corrected to the initial level.
It is the significant upheavals in the global economy that to a greater extent unbalance the housing market: the resale of shares of large companies, international conflicts and other events can lead to a weakening of the ruble against other currencies and a further rise in real estate prices. On the other hand, a slight downturn in financial markets plays in favor of strengthening prices, since many investors at such times invest in real estate as a defensive asset.
Speaking of the immediate prospects, global shocks to the Russian economy are not yet threatened: the prices of oil and other resources are supported by the tense situation in the Middle East. Nor should we expect a long-term collapse of the ruble exchange rate, which shows a small but stable growth thanks to Russia's strengthening of its international status.
It is always worth remembering that some of the real estate offers are nominated in dollars (for example, apartments of the highest price segment). Of course, the growth of their value will depend on the current exchange rate of the Western currency to the greatest extent, which must be taken into account. Also, when choosing and buying a home, you should pay attention to other features of the formation of prices for it.
Factors of influence on the real estate market
It is important to monitor the level of nervousness in the real estate market. It is still better to refrain from buying a home during periods of the most noticeable weakening of the ruble against the dollar (including, taking into account forecasts for the near future). During such periods, buyers are afraid of losing their savings and are more willing to buy real estate, and sellers do not always profitably adjust prices based on demand. It is better to wait until stable prices form or even decline.
Thus, the main parameters that determine real estate prices are always not currency fluctuations, but supply and demand. Currently, the housing market is not experiencing a deficit in all its segments, and purchasing activity is also steadily growing. The latter may differ depending on the region, the standard of living of the population in each of which is at a certain level. Of course, prices in the largest and steadily developing regions, especially in the Moscow region, will gradually show growth, while in less developed housing prices often go down against the backdrop of falling consumer activity.
