Owners of five-story buildings are asking for the same as for high-end new buildings
Owners of apartments in houses destined for demolition hope to sell their possessions at the market price. The sites list about one and a half thousand ads for the sale of such housing. The owners of demolished apartments do not lure potential buyers with anything — a quick move to a new house, the opportunity to increase the area to the social norm and just a good investment in the current economic situation. Is it profitable to invest in such real estate, MK found out.
“The closer the move, the more expensive the apartment in Khrushchev,” says Nadezhda Korkka, managing partner of Metrium. — The average cost of a «square» property for renovation in the next year and a half (first wave) is 272 thousand rubles, 12% higher than in the houses of the third wave, after 2028.
We are calling on one of the ads. The five-story building is located in Sviblovo — far from the center, but in a quiet area, near the park and the Yauza River. The owner is selling a two-room apartment on the fifth floor with an area of 40 square meters marked «urgent». Demolition — from 2025 to 2028. The exact date has not been determined.
“We are asking for 13 million,” says the owner. — Our apartment is good in itself, so you will also move to a new house after 2025.
325 thousand rubles per square meter? Oh-hoo. More expensive than in some new buildings near the metro. We are interested in what is good apartment. “Oh, you can’t even imagine how cozy and warm it is. And most importantly, there are no shops and restaurants on the ground floor, so it’s quiet in the evening,” the owner quickly reacts. And makes an appointment.
Alas, after a personal visit, the beautiful picture fades. It turns out that instead of a bathtub, showers, rooms are adjacent, half of the apartments in the entrance are rented out to visitors from the former republics of the Soviet Union, and climbing to the fifth floor after shopping and business trips with heavy suitcases is not so easy.
— No, what were you waiting for? The owner purses her lips. — We must be patient. You will move to a new house in a few years, there will be an elevator and a bath.
We ask what kind of discount you can count on, since you need to sell your home urgently. It turns out that only half a million.
Trust me, you won't regret it! — continues to convince the woman. — A chic park, it is being equipped all the time!
— Are you equipping it? — we're snickering. — And if not, lower the price.
But the owner does not lower the price. Obviously, she is one of those «waiters» who hope to get on a naive buyer. The area is really good. But not an apartment. And the house where you plan to move is unlikely to be next to the same river and park.
“Houses with resettlement in 2025-2028 account for 30% of the total supply of five-story buildings, and the largest share, 66%, remains in the houses of the third wave of resettlement,” comments Nadezhda Korkka.
When buying an apartment in houses demolition, there are some risks that you should be aware of, says the expert. Firstly, investment in such housing may not be very predictable, including in terms of layout, address, floor, park or recreational area nearby.
Secondly, if you do not have other housing, before resettlement you will live in an old house where you would like to make repairs, but it will be pointless.
Thirdly, if you plan to take out a mortgage, keep in mind that banks are reluctant to lend to housing with a high depreciation process. The use of maternity capital may be limited to buying an apartment in dilapidated and dilapidated houses, and many objects that have fallen under renovation have such a status.
“As in any other category of housing, there are liquid options among apartments in houses that are subject to demolition, but there are not so many of them,” concludes Sergey Zaitsev, sales director of the federal company Etazhi. Add to that the risks. They are much higher, because often this is a “blind purchase” with an incomprehensible prospect in terms of time, and most importantly, there is rarely clarity about where and what kind of apartment will be given in return. At the same time, the secondary housing market already maintains a relatively high average discount of 4-5%, and there are options for urgent sale, where the discount is even higher.
The cost of one «square» in Khrushchev, going for demolition, is on average 19% lower than in a new house. The gap in prices can reach 36%. But you need to take into account that houses for moving may have poor-quality finishing work, problems with sound insulation and other shortcomings.
Despite a number of nuances, buying an apartment in Khrushchev for demolition is profitable, says Nadezhda Korkka. But be careful when choosing your home. The apartment should not have encumbrances, hidden tenants who can claim their share, illegal redevelopment. Otherwise, the meaning of the chain “buy the old for the sake of getting the new” is lost. Risks increase in Soviet houses with a rich history due to improperly conducted privatization and frequent changes in ownership.
However, there is an advantageous position that few people know about. Having bought a room in a communal apartment for demolition, you have the right to receive a one-room apartment instead. But such an option still needs to be looked for. There are almost no communal apartments left in the sleeping areas of Moscow, and in the center they cost fabulous money…