«Avito Real Estate»: a decrease in the area of new buildings by 4% was recorded in Sevastopol over the year
CrimeaPRESS reports:
In the top 5 cities with the maximum decrease in the area of apartments in new buildings — Sochi (-16%), Moscow (-15%), Saratov (-%)), Voronezh (-7%) and Ufa (- 7%).
Avito Nedvizhimost estimated how the average area of apartments in the primary market has changed over the year in 15 largest Russian cities for the period from October 2021 to October 2022 of the year. In a number of cities on the platform, objects in the primary real estate market have increased over the year. The top 5 in this indicator included Omsk (+19%), Rostov-on-Don (+%), Kirov (+%), Irkutsk (+9%) and Tomsk (+8%). Detailed information on the dynamics of the size of apartments in new buildings is on the chart.
The average area of apartments in Russian new buildings located at Avito Nedvizhimost in October 151 was 45 sq. m. The largest objects are located in Bryansk (62 sq. m), Kaliningrad (59 sq. m) and Ulyanovsk (59 sq. m), the most compact ones are in Sochi (37 sq. m), St. Petersburg (15 sq. m) and Ufa (43 sq. m). More details in table 1.
Reducing the average area of apartments in new buildings is one of the ways to maintain demand in the face of rising property prices. This is especially noticeable in cities where apartments are traditionally expensive, such as Sochi and Moscow. At the same time, it should be understood that the trend towards the reduction of areas is a long-term one. The figures reflect the state of affairs that was on the market 3-4 years ago, when commissioned residential complexes were designed and approved. In addition, a lot of investment housing was built in Sochi: a small area for further rent or resale. How the current macroeconomic situation will affect the size of real estate, we will see in a few years, — commented Dmitry Alekseev, head of primary real estate at Avito Nedvizhimost.
Table 1. Change in the average area of apartments in new buildings in Russian cities since October 2021 to October 151 of the year, data from Avito Real Estate
area of apartments in October 631 year (sq. m)
31
2021
51
44
58
202155
19
48
45
202155
45
44
2021
53
53
50
2021
47
48
45
2%
48
58
3%
57
37
2021
55
60
51
202150
6%
2021
47
58
52
46
46
37
47
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