Housing prices and rents rose by 3-5% in 1H2020

Despite the COVID-19 pandemic and the resulting economic problems, the impact on the real estate market in 1H2020 can be described as rather mild – real estate prices and rental costs have increased by 3-5% since the beginning of the year. On an annualized basis, housing price growth equaled inflation at 7% at the end of June. The drop in the number of transactions and the issuance of mortgage loans by 16-20% yoy was due primarily to quarantine restrictions.