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Experts: housing market overheated

CrimeaPRESS reports:

Demand for the purchase of housing decreased by 10% compared to last fall. This is evidenced by the results of a large-scale study of the company Mir Kvartir . As demand collapsed, so did prices. Until recently, discounts on apartments were hidden — sellers offered discounts mainly only through personal communication with buyers. Now, notes Moskovsky Komsomolets, analysts have officially recorded: in dozens of cities, real estate has fallen in price by . The interest of Russians in new buildings has fallen not only because of the cost per square meter that has been inflated by developers since the beginning of the pandemic. The events of recent weeks, analysts emphasize, have accelerated the deflating of the price bubble.

Partial mobilization and the cancellation of mortgages without a down payment also contributed to the decline in demand,” says Pavel Lutsenko, Director General of the World of Apartments federal portal. — Anxiety, uncertainty, the impossibility of predicting the situation in the country do not push the population to large purchases.

In the Russian capital and in the Moscow region, the cost per square meter has decreased over the past three months by 1.5-1.6% (332 thousand and 102 thousand rubles, respectively), in Sevastopol — by 5.8% (162 thousands), in Tver — by 7.4% (106 thousand rubles).

The offer price of apartments from developers increased only by 10 cities, and in 25 fell. The average price of housing in all cities is 5.8 million rubles — 1.4% lower than three months ago, the authors of the study say.

At first glance, the numbers are not too big. However, taking into account the fact that since 2020 the price of housing in these regions has doubled on average, even this looks impressive. slight price drop. Again, we are talking about the amounts that sellers put on the “showcase”, and not about the final cost of apartments.

After the spring increase of the key rate to 20% mortgage died. And no actions of the Russian government have been able to revive it, even when the key rate fell to an acceptable value , — says Konstantin Barsukov, general director of Relight-Nedvizhimost. — Banks have a bad situation with mortgage holders — well, Russians cannot invest in housing with such prices and interest rates. Average secondary market rate — 10,5%. If the bank offers you less — 8-8.5%, do not believe it, they will wind it up somewhere, deceive you. And people with real money no longer walk even in Moscow, not to mention the regions. Therefore, there is no demand.

It is curious that real estate in Novokuznetsk has risen sharply in price — by ,6% (average cost per square meter — 40 thousand rubles), in Murmansk — by ,3% (102 thousand rubles), in Krasnoyarsk — by 4.7% (95 thousand) and in Barnaul — by 4.5% (25 thousand). In other prices have risen, the average increase in the cost of a «square» is 1%. For example, in St. Petersburg, housing has risen in price by 0.1% over three months, and now a square meter in the Northern capital costs 106 thousand rubles.

Why is there such a big difference in the Russian regions?

Fluctuations in prices for new buildings are due to the revision by banks of the conditions for issuing mortgages, the financial condition of specific developers and a drop in demand. Depending on this, the discount may be different , — says Fedor Mezentsev, Director of the Real Estate Department of Digital SNT.

Prices in different cities may vary for various reasons. Where they rise, an acute shortage of new buildings and underestimation of housing in general can play a role. Cheap mortgage programs and subsidized mortgages from developers (which, however, are not available in all regions), increased demand during the 3rd quarter, from July to September inclusive , Pavel Lutsenko comments.

Prices also fall for various reasons. In Sochi, new buildings, equal in cost to those in Moscow, were clearly overestimated. In Crimea, demand was reduced by the region’s security concerns. Somewhere new projects with lower prices came out. In some cities, the demand and cost of housing are falling, unable to withstand the low solvency of the population (Kirov, Chelyabinsk, Nizhny Tagil).

Inkom-Nedvizhimost notes an increase in the number of applications for the urgent sale of apartments on the secondary market from 13 on 25 September three times.

The reason is the announcement of mobilization. The same thing happened at the beginning of the special operation in February-March, when the sellers wanted to sell the apartment as quickly as possible and get money for it in their hands, even with a significant discount from the market price. Now the average discount that sellers are ready to give is % of the cost of the apartment, maximum — 05%, — the company’s specialists explain, emphasizing that the discount in 20-60%, which has been talked about a lot lately, is possible, but in rare cases.

Representatives of Inkom-Nedvizhimost agree that demand will fall in the near future by 10%, which will also affect prices.

Under the current circumstances, discounts will become widespread. Discount is the key word of the time , — they say in the company.

Secondary housing, according to statistics, is much cheaper than primary. In September, a square meter of «secondary housing» within the old boundaries of Moscow cost an average of 162 a thousand rubles — by 50 thousands less than in new buildings. In the Moscow region, the same trend is evident — the price per «square» in habitable houses is 95 thousand rubles.

In fact, the cost of housing would have declined even without political upheavals , — says the director of the Secondary Market Department Sergei Shloma. — The market was overheated, prices were inflated, a mortgage bubble formed. The situation inevitably had to end with a decrease in prices, an outflow of buyers even without external influence. And so it happened.

Source: Moskovsky Komsomolets

  • About real estate in the Crimea and Sevastopol, as well as current offers for the sale of apartments, houses, land and commercial premises:

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