Excited consumer demand influenced
On the eve of the end of preferential mortgages, a new wave of price growth ran through the national primary housing market. People were in a hurry to get into the “last carriage” of the closing state program. The prices for new buildings per meter increased the most in Vladikavkaz, Lipetsk and Nizhny Tagil. Moscow was also among the leaders in terms of growth in the cost of 1 square meter.
Photo: Daria Atamanchuk
“The increase in prices for new buildings in the second quarter was not as pronounced as in the first three months of this year, but the increase over the six months was quite impressive. This was the conclusion reached by Pavel Lutsenko, general director of the World of Apartments portal, who compared with his colleagues the price dynamics on the primary market in 70 Russian cities. According to him, over the past three months, “square meters” of apartments in buildings under construction have become more expensive in 57 cities, “square meters” prices have fallen in 12 cities, and prices have not changed in one.
According to the results of the last quarter, new buildings in Vladikavkaz increased in price the most (+14.6%). Experts also recorded a significant increase in Lipetsk (+11.3%), Nizhny Tagil (+9.3%), Sevastopol (+7.9%), Kurgan (+7.1%), Kaluga (+7.1% ), Penza (+6.2%), Saransk (+5.5%), Togliatti (+5.3%) and Krasnoyarsk (+5.3%).
Prices fell the most in Makhachkala (–8.2%), Krasnodar (–5.3%), Stavropol (–5.3%), Surgut (–4%), Magnitogorsk (–3.4%), Tula (–3.1% ), Vladimir (–1.7%), Orel (–1.3%), Novokuznetsk (–1%) and Ufa (–0.9%).
Moscow square meter grew over the quarter by 5.3%, to 375,472 rubles, Moscow Region — by 1.9%, to 193,218 rubles, St. Petersburg — by 4%, to 248,153 rubles. On average, in all cities, since the end of March, a meter of new buildings has increased in price by 2.4%, to 135,257 rubles.
The total cost of an apartment in the second quarter increased in 41 cities out of 70, and fell in 29. Nizhny Tagil (+17.8%), Vladikavkaz (+17.5%), Krasnoyarsk (+10.4%), Murmansk especially showed positive dynamics (+9.1%), Kurgan (+8.5%), Novosibirsk (+7.9%), Naberezhnye Chelny (+7.5%), Lipetsk (+7.2%), Penza (+7% ) and Kaluga (+6.6%). Negative – Magnitogorsk (–5.8%), Ulan-Ude (–5.4%), Novokuznetsk (–4.7%), Ryazan (–4.2%), Cheboksary (–4%), Grozny (– 3.5%), Kirov (-3.3%), Tula (-3.3%), Krasnodar (-3.2%) and Stavropol (-3.1%).
In in the capital of Russia, the cost of an apartment on average increased by 6.2%, to 20,998,632 rubles, in the Moscow region — by 5.2%, to 9,797,466 rubles, in St. Petersburg — by 6.3%, to 12,878 251 rub. In general, in all cities the average lot rose in price by 2.1%, to 7,185,921 rubles.
According to Lutsenko, the rise in prices was undoubtedly influenced by the rush of consumer demand in anticipation of the end of the preferential mortgage. According to him, now the main intrigue is how the market will behave after July 1, when this program ends. “Most likely, developers will try to keep prices at the same level as long as they can. However, then they will still have to cut the price tags. At the same time, the number of new residential complexes launched on the market, and, accordingly, apartments for sale, will decrease, creating a supply shortage. Therefore, the process of falling prices will be very moderate and gradual,” the analyst concluded.