More than 60% of apartments in new business class buildings are sold before completion. Last year, this figure increased by more than 5%, Oleg Kolchenko, shareholder and managing partner of Osnova Group of Companies, told socialbites.ca.
He explained that this is primarily due to customers’ desire to reduce the final cost of housing due to rising mortgage prices.
“At the same time, tranches and letters of credit with symbolic payments in the first years of payment have become popular, which allows you to save the amount for independent repairs,” the expert said.
According to Osnova and Metrium Groups of Companies, of the 33 thousand new buildings offered for sale in Moscow in June 2024, 13 thousand, or 40%, were new buildings of the business class. At the same time, there were 9.8 thousand offers of this type in New Moscow (30%). In the mass segment, 5.8 thousand apartments were sold unfinished (18%), in the premium class – 3.3 thousand (10%), and in high-budget complexes – about 880 (2%).
The study was conducted in August 2024.
Previously in Russia decreased finished apartment prices.
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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.