Budget housing is “drifting” to New Moscow and the Moscow region
The results of May puzzled potential buyers of Moscow apartments: on the eve of the end of preferential mortgages in the market of mass new buildings, the share of apartments costing up to 10 million rubles . fell compared to May 2023 from 38.2% to 16.9%. Budget options up to 5 million rubles. almost disappeared from sale.
According to the managing director of the Metrium company Ruslan Syrtsov, in the mass segment of the primary capital market (standard and comfort class) in May 2024, developers sold 19.9 thousand apartments and apartments. Of these, the share of premises worth up to 10 million rubles. there were only 3.4 thousand housing options. A year ago, the volume of supply of such premises was estimated at 8.9 thousand units, i.e. the number of apartments in mass new buildings in Moscow costing up to 10 million rubles. decreased by 61.8%!
In May 2024, there were just over 1,220 apartments and flats priced at up to RUB 10 million in new business-class buildings in Moscow. A year ago, there were almost 1,400 such premises. Thus, in the business-class segment, the number of housing options for up to RUB 10 million decreased by 14.8% over 12 months.
“Almost 44% of lots on the new-build market in “old” Moscow for up to RUB 10 million are apartments,” noted Oleg Kolchenko, managing partner of the Osnova Group of Companies. In his opinion, it is better to start searching for the most affordable options with apartments. If the optimal combination of price and quality is important to the buyer, then inexpensive apartments allow you to get a good location or a fairly spacious lot with a small budget.
For comparison, in New Moscow in May 2024, developers offered 8.8 thousand apartments worth up to 10 million rubles. In the same period in 2023, the supply volume of such premises was estimated at 9.2 thousand, i.e. and in New Moscow there is an offer of lots in the price range of up to 10 million rubles. decreased by 4.3%. True, it is not as noticeable as inside the Moscow Ring Road. In “old” Moscow there is a supply of apartments and apartments worth up to 5 million rubles. over the year decreased from 486 to 18 options.
In general, the mass segment market in “old” Moscow is dominated by apartments in the budget of 10-15 million rubles, which form 36% of the supply in the “standard” and “comfort” housing classes. In the business class, the largest share is made up of apartments and apartments costing 15-25 million rubles. — 35%. In the premium class, apartments are most often offered with a budget of more than 60 million rubles. (27%).
“The supply of apartments in the affordable price segment is declining. Accordingly, prices for new buildings in the capital continue to rise,” Syrtsov emphasized. According to his forecast, the dynamics of the supply of apartments in the most affordable price niche shows that the mass segment is gradually being pushed out to New Moscow and the Moscow region, and in “old” Moscow they are beginning to implement projects with a class no lower than “business”.
In June, the rush in the primary housing market continued. Maximum discounts on new buildings in Moscow, according to AC IRN, have increased to 50%. Mostly apartments are offered with the biggest discounts — sales of new buildings with official residential status are spurred by the end of preferential mortgages from July 1, 2024.