The share of apartments sold by proxy in Moscow has become the highest in 20 years

According to RBC, referring to the data of analysts of the real estate company "NDV Supermarket Real Estate", a year earlier, such transactions accounted for no more than 5%. Now they have reached a record in 20 years. 96% of all power of attorney transactions are apartment sales. The purchase accounted for only 4%. Experts explain this trend as a consequence of geopolitical events and the outflow of some citizens abroad - most powers of attorney are issued to close relatives and are issued for a specific transaction.

However, the growth is associated not only with the departure of citizens abroad, but also with the sale of investment apartments by proxy. If several apartments in new buildings were bought for resale, they can be sold on the secondary market by proxy. In 2022, half of all transactions for the sale of housing in the secondary market in the country were made through a notarized power of attorney, whereas in 2021 - no more than 20%, in 2020 — 15%, in 2019 — 8%, in 2018 - 5%.

Earlier it was reported that in 2022, 3.9 million transactions were concluded in Russia over the year. Most of the real estate was sold in Moscow, the Moscow region, and the Kuban. Prices on the secondary market continue to decline, and sellers are ready to give more substantial discounts. But potential buyers are not always willing to agree to such deals.