Consumers want to have warm garages and several dressing rooms
Based on the results of January-February 2024, the number of requests from potential buyers of cottages and summer houses was 20% higher than in the same period last year. But demand and real deals are, as they say, two big differences. Those who love life outside the city are divided into two main camps: some want to buy a turnkey house without much hesitation, others do not want to be tied to a place and prefer to rent exclusively. And these are not all the changes in the preferences of Russians.
According to the VSN Group's suburban real estate department, the core target audience for the suburban housing segment is representatives of generation Y (people born from 1981 to 1996). Millennials are demanding and spoiled, they don’t like to wait, so they prefer houses with finished interiors, ready to move in.
In the near future, they will be replaced by generation Z (those born from 1997 to 2012): technologically advanced and extremely rationally thinking youth, who may even stop purchasing housing. These people are actively interested in science, support the environmental agenda and a healthy lifestyle, and are extremely independent. It is highly likely that they will en masse prefer renting a house to buying one, without being tied for a long time to the place or even the country of residence.
A growing proportion of specialists working remotely has become an additional factor in demand in the suburban segment. More than half of the buyers of low-rise housing are typical city dwellers. The proportion of bachelors and childless couples is increasing, and investor interest in country real estate is also growing, especially with developed infrastructure.
New ways of communication
If in 2017 more than 40% of requests were made by phone calls, then by 2023 this figure decreased to 26%. The remaining 74% of buyers, if given a choice, prefer to communicate in instant messengers and chats.
Even more noticeable changes in buyer behavior are associated with the growing popularity of online property showings and electronic registration of transactions. The online showing format arose as home sellers responded to restrictions during the coronavirus pandemic, and buyers appreciated its convenience.
Electronic registration of real estate transactions, in turn, has gone from 0% in the very recent past to 90 -95% in a number of companies now. Nine out of ten mortgage transactions are now registered in this way in the Moscow region.
During periods of high economic turbulence, the behavior and preferences of buyers transform especially strongly. Now the suburban real estate segment is essentially experiencing a revolution in demand.
Shrinking since the “zero” The average household area continues to decline by more than half. Today it is 120-130 square meters, while the demand for very small houses with an area of less than 100 square meters is growing steadily.
The most affordable homes in each supply sub-segment are in greatest demand. Experts note the final “untying” of the demand from fluctuations in the ruble exchange rate and the redistribution of buyers from one construction technology to another depending on changes in prices for building materials.
Changes also affected planning decisions. Against the backdrop of a rapid reduction in square footage, buyers are absolutely not ready to give up the functionality of their home. Developers and designers are forced to meet market expectations by offering more and more rational, thoughtful and optimized layouts, in which every meter of space is designed to benefit future residents.
The usual loss of space on corridors and unreasonably complex room configurations is a thing of the past. However, master bedrooms are becoming increasingly popular, the number of bathrooms and dressing rooms is increasing.
The demand for one-story houses is actively growing: almost half of buyers are already choosing them, even despite the relative high cost of such a solution. An increase in demand is predicted for warm garages with a separate entrance to the house, storage rooms next to the kitchen area and cottages with two living rooms.