The Russian real estate market can feel the impact of the ruble depreciation only under the condition that this trend will continue for at least six months, whereas it is not worthwhile to expect an instantaneous market reaction, experts say polled by RIA Real Estate.
The ruble exchange rate on Tuesday is falling against the dollar and the euro amid the announcement by the Bank of Russia about the resumption of purchases of foreign currency on the domestic market in the interests of the Ministry of Finance. According to the Russian financial regulator, the volume of such operations with settlements on August 20 was 17.5 billion rubles. The dollar rises on Tuesday to 67.3 rubles, the euro - to 77.5 rubles.
The number of Russians who buy real estate in other countries will not change much due to the weakening of the Russian currency, argues Artem Nevollo, director of the office real estate department at ILM. He explains this by the fact that, as a rule, capital among people capable of such transactions is already in currency equivalent.
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