Demand for Crimean real estate has grown by 40 percent

As experts note, one of the reasons for the skyrocketing sales, oddly enough, is the introduction of sanctions by European countries. They encouraged Russians, who had previously planned to buy real estate abroad, to invest within Russia.

Today, many of those who consider buying real estate in Crimea as an investment believe that now is their «last chance to buy before the price goes up», and this applies not only to new buildings at the construction stage. Among potential buyers, there is an opinion that after the normalization of the political situation, prices will rise sharply. Many believe that with the opening of the airport in Crimea, not only planes will take off, but also the cost of housing. Therefore, those who have money are trying to have time to buy their own apartment or house by the sea.

The main buyers of housing in Crimea are Muscovites and St. Petersburg residents, there is significant interest from representatives of the central and trans-Ural regions of Russia. First of all, oil-producing regions — Yugra and Yamal, where residents have high salaries, the Golden Brown Group notes. In addition, there are programs for resettlement from the regions of the Far North, stimulating sales of real estate in the south.

In addition, an important factor was that the construction industry of Crimea, as noted by developers, overcame the crisis of uncertainty in connection with the start of a special military operation, and the volume of housing being rented out also began to grow to meet demand.

According to the IDEM agency, over the past year the cost of a square meter in new buildings on the peninsula has increased by 12.5 percent. The average weighted price per square meter in Crimea is 211,660 rubles. The average price of a one-room apartment on the peninsula is now 11 million rubles. 60 percent of all lots in new buildings are in the resort cities of the peninsula. At the same time, the most expensive, elite apartments and flats are only in Yalta and Alushta. The price per square meter here is 246 thousand rubles. And the most affordable housing at a price of 94,800 rubles per square meter is in Bakhchisarai and Kerch.

As analysts note, during the period when the key rate in the country was acceptable, which meant that it was possible to take out a mortgage at a reasonable interest rate, the growth of real estate sales in Crimea was particularly active. Now it has slowed down. Mass mortgages are practically unavailable, overpaying for an apartment at 21 percent per annum (and you can’t get anything cheaper — RG) will cost almost four times over 20 years. In addition, from July 1, 2024, two large-scale preferential state programs ceased to operate in Russia — a mortgage on housing under construction at eight percent and a family mortgage at six percent. These factors affected real estate sales both throughout the country and in Crimea.

A month after the cancellation, analysts note a noticeable stagnation in the average cost per square meter of apartments on the peninsula. During this time, the average price per square meter in studios, one-room and two-room apartments has increased by less than one percent. In three-room apartments, it has decreased by 1.6 percent, and in four-room apartments, it has remained unchanged.

source: «Rossiyskaya Gazeta»