Muscovites rushed to get rid of the inherited apartments: House: Habitat:

In 2021, Muscovites rushed to get rid of their inherited apartments. The number of such transactions has doubled compared to previous periods, which is associated with the coronavirus pandemic. TASS with a link to the message of the realtor company “Inkom-Real Estate”

Almost 60 percent of Moscow’s inherited apartments are put up for sale and 40 percent are leased. “For the entire period of existence of a civilized housing market [с 1990 годов] on the “secondary” Moscow their [наследных квартир] the share in the exposition was kept at around 10 percent, during the last year it has doubled and reached 20 percent, ”the company said in a statement. The number of offers has increased due to the coronavirus pandemic. Half of the apartments that are first rented are put up for sale after three years, when the inherited property is no longer taxed.

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According to company representatives, the median cost per square meter in Moscow on the secondary market increased by 12 percent and reached 279.5 thousand rubles. “To date, the potential for further price increases has been exhausted, and in the best case, for sellers, the average cost will remain at the level reached in 2021,” a company spokesman said. Sergey Shloma

The demand for real estate purchase fell in the fall, but in the spring and summer of 2021 it remained at an unusually high level. Before the New Year, potential buyers of real estate became especially active. According to Shloma, amid tightening conditions for housing loans, the number of transactions in the secondary market in 2022 may decrease by 20 percent.

Despite the large number of proposals, the purchase of an apartment inherited less than three years ago carries certain risks, approves lawyer Elena Babushkina. The sale and purchase transaction can be challenged by the newly appeared heirs. The limitation period for inheritance cases in Russia is three years, and during all this time, any claimants for the inheritance can go to court and claim their share.

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