Russians have become increasingly interested in buying apartments in new buildings in October-December 2023. In the fourth quarter, demand increased by 19% compared to July-September. This was stated in a study by the Avito Real Estate company, received by the editors of socialbites.ca.
Of all formats, studios were most in demand among Russians, and interest in studios increased by 27%. In the last three months of the year, the supply of flats in the new building increased by 1% and prices increased by 6%.
In the last quarter of 2023, demand in the primary market increased in 26 of the 33 provinces participating in the research. Interest in buying housing in Krasnoyarsk has doubled; 69% in Ryazan, 42% in Krasnodar. Both capitals showed positive dynamics; demand 37% in Moscow, St. In St. Petersburg, it increased by 1%.
“The growth in demand for primary housing is largely connected with the situation in the banking sector – in the fourth quarter, people continued to observe how the interest rate of the Central Bank of the Russian Federation was increasing, and therefore they tried to fix the purchase price and interest on mortgage loans, closing transactions as soon as possible. This trend was observed regardless of the purpose of purchasing an apartment: both as personal residence and as an investment. This also explains such a strong increase in interest in apartments in Moscow,” commented Dmitry Alekseev, primary real estate manager of Avito Real Estate.
Due to high demand, the supply of new buildings decreased in 21 of 33 cities in the fourth quarter. In the last three months of the year, the number of properties available for purchase on the platform decreased in Barnaul (-39%), Perm (-34%), Tomsk (-31%), Simferopol (-28%) and other cities. . St. In St. Petersburg, supply decreased by 12% during the quarter, while in Moscow it remained unchanged.
At the same time, some cities demonstrate an impressive pace of construction and commissioning of new facilities: in Krasnodar, supply increased by 53%, in Ryazan by 44%, in Irkutsk by 38%.
Prices increased in 31 of 33 cities surveyed in the fourth quarter. Exceptions: Irkutsk, where housing prices in new buildings fell by 4% per object, and Novosibirsk, where prices remained unchanged. The most expensive cities per square meter in the fourth quarter are Sochi (369 thousand rubles), Moscow (333 thousand rubles) and St. It was St. Petersburg (218 thousand rubles). The most affordable housing is in Bryansk (84 thousand rubles per square meter), Stavropol (88 thousand rubles), Ulyanovsk and Izhevsk (89 thousand rubles each).
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