The spectre of bankruptcy over developers
Sales of flats for the first time in 5 years decreased by 15%. According to experts, this is a sign that apartment prices have reached their maximum level. This marks the end of a good streak of developers who recorded high sales results and high profits. The drop in sales of new flats will mean financial difficulties and even the bankruptcy of some companies.
At the beginning of 2018, it was assumed that the housing market would soon collapse. The data on the sale of flats and the pace of investment shows that the crisis has already begun.
Developers admit that the prices of flats have reached such a high level that buyers have resigned from buying them and are waiting for a reduction in prices.