From January to May 2024, Russians’ demand for country houses and building plots in the country’s regions increased by approximately 30%. Almost 70% of Russian residents want to own real estate in the country, about 50% of customers purchase this format for the purpose of permanent residence. This is stated in a study by the development company Maramax (available from socialbites.ca).
Analysts attributed this trend both to the seasonal factor and to the reorientation of Russians’ demand for suburban housing from new buildings. Analysts did not exclude that the demand for country houses will increase in the future, but subject to preferential mortgage programs, which remain the main driver of sales – transactions with 100% payment account for only 20%.
The Russians focus more on a budget of about 8 million rubles. and higher when buying suburban housing – there are no longer budget lots on the market or they are significantly inferior in quality characteristics. Most often buyers use a government-sponsored program (8%), which accounts for 40% of demand. A family mortgage (6%) and a scheme for IT professionals (5%) receive 30% each.
Among the most important features for Russians when buying suburban housing are landscaping of the cottage community, asphalt entrances, communications, lighting, its own management company, the presence of children’s and sports grounds, recreation areas, the ability to connect to the Internet, as well as the proximity of social and entertainment infrastructure.
The study was conducted in June 2024.
Russians before appreciated Possibility to buy an apartment without credit.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.