Real estate in Russia: in which cities is demand high and what properties are being bought?
CrimeaPRESS reports:
Despite the general lamentation that “there is no money for the basic necessities, let alone buy housing,” Russians are trying to resolve their housing issues. Whether with the help of loans from relatives and friends, taking out a mortgage, assistance from the state (the same maternity capital), exchanges and additional payments, but they make a lot of efforts to provide themselves with “squares”. Some succeed, some don’t…
How high is the demand for Russian real estate today? According to experts, very much so. But, of course, it varies greatly depending on the region, its economic activity, infrastructure development and other factors. Here are a few cities where there is traditionally high demand for real estate:
- Moscow: The capital of Russia is the largest real estate market in the country. The high demand for housing here is due to its status as an economic and cultural center, as well as the presence of many jobs and a variety of infrastructure. And also the number of different offers. Both in format and cost. There are super-expensive business-class housing and relatively cheap ones, but, of course, with fewer claims to comfort. So, top 100 cheapest apartments in Moscow consists mainly of studios.
- Saint Petersburg: Russia’s second largest city also has an active real estate market. The demand for housing in Northern Palmyra is supported by its historical significance, developed cultural sphere and high standard of living.
- Ekaterinburg: a large industrial and commercial center of the Urals also has a high demand for real estate. Developed infrastructure, the presence of large companies and a high standard of living make this city attractive to investors and residents.
- Krasnodar: Located in southern Russia, this city is a major economic and cultural center of Kuban. A favorable climate, developed infrastructure and active construction make this region attractive for purchasing housing.
- Kazan: the capital of the Republic of Tatarstan is a major economic and cultural center of the Volga-Kama region. The demand for housing here is supported by economic growth, the presence of large universities and developed infrastructure.
Which apartments are in most demand?
Experts note that the demand for apartments depends on many factors, such as location, layout, condition of the property and others. Somehow:
- location: apartments located in the city center or in well-developed areas with developed infrastructure, transport accessibility, the presence of public places (schools, kindergartens, shops), as well as proximity to work or study, are often the most in demand.
- layout and area: apartments with a rational layout, including a sufficient number of rooms and convenient organization of space, are usually more in demand.
- object state: apartments in good condition, with modern renovations and equipment, are usually in greater demand. Buyers pay attention to the quality of the finish, the condition of the plumbing, electrical wiring, windows and other elements.
- safety and comfort: apartments in residential complexes with developed infrastructure, security, parking, playgrounds and other amenities are usually more in demand, especially among families with children or older people.
And, of course, whatever one may say, the main criterion for many when choosing an apartment is its cost. Experts here state: today residential real estate — plus or minus good quality — is more likely a “luxury item” than a necessity, if we draw parallels between its cost and the salaries of the overwhelming number of Russians.
And here in the list of the most popular real estate objects are two-room apartments with an area of 55-70 sq.m. How much are potential buyers willing to pay for such housing? On average — 6-7 million rubles. However, as a rule, in large cities such an offer does not coincide with the wishes of the sellers. Their average bill for such objects is 8-9 million rubles.
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