Demand for studios on the secondary housing market in Sevastopol increased by 23% over the year

CrimeaPRESS reports:

Avito Real Estate analysts summed up the results of the year on the secondary housing market in Russia, comparing data for the full 11 months of 2022 and 2023. During this time, demand on the platform for older apartments increased by 9%. The popularity of studios increased the most (+17% per year). The supply did not grow that much — by 3% on average in the market. Prices over the year increased by 13% per object and 10% in terms of square meters. Interestingly, at the end of the year, studios were the only format that became more accessible to buyers than a year ago. The cost of such compact housing decreased by 2% per object and by 6% per square meter.

To support the ruble throughout 2023, the Central Bank raised the key rate. Because of this, mortgage rates increased, following which new buildings became more expensive, and then secondary apartments “caught up”: after all, many buyers first sell their current home in order to buy a new one. However, the market behaves differently in different cities. For example, in Moscow over the year, demand decreased by 11%, supply by 10%, and the cost per square meter by 2%. This was partly due to an increase in the average size of the property in the capital — large apartments are cheaper per square meter — partly due to a cooling of the market as a result of rising mortgage rates. We expect that next year, in the context of “expensive” credit money, this trend will become characteristic not only of the capital, but also of other cities: people will rely more on their own rather than on borrowed funds, and therefore will rather prefer to buy budget properties of a compact format: studios or one-room apartments. And someone, in conditions of uncertainty about inflation, will postpone the idea of ​​expanding— the press service of the head of secondary and suburban real estate at Avito Real Estate quotes Sergei Khakhulin.

Over the course of the year, demand on the secondary housing market at Avito Real Estate increased in 29 of the 33 cities participating in the study. Interest in apartments increased most in Simferopol (+49%), Krasnodar (+29%), Yekaterinburg (+28%) and Kazan (+23%). In St. Petersburg, the growth was 21%, and in Moscow, the demand for the old fund decreased by 11%.

Supply increased in 23 out of 33 cities during the reporting period. The most significant increase was in Tyumen (+20%), Novosibirsk (+18%) and Yekaterinburg (+14%). The number of old stock properties available for purchase in Sochi (-17%), Moscow (-10%) and a number of other cities decreased.

The cost of secondary apartments increased over the year in most regions that participated in the Avito Real Estate study. The exceptions in terms of the cost per square meter were Kaliningrad (-8%), Krasnodar (-3%), Sevastopol and Moscow (-2%), as well as St. Petersburg and Sochi, in which the price per square meter in the old fund for year has not changed.

As for the most compact housing format, the cost per square meter in studios on the secondary market decreased over the year in Krasnodar (-7%), Kaliningrad (-6%) and Moscow (-4%). Such objects have risen in price the most in terms of square footage in Chelyabinsk (+22%), Omsk (+20%), Saratov and Tomsk (+18% each). The cost per facility in these and other study cities is presented in the graph.

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