Prices increased due to the authorities' ban on the construction of residential premises less than 28 meters
Analysts summed up the results of the first half of the year on the market of new buildings in the mass segment of the “old” Moscow. The main news is that the cost of a meter in one-room apartments turned out to be higher than in other housing, by almost a hundred thousand rubles. The average price per square meter of apartments and apartments reached 345.6 thousand rubles per square meter, and one-room housing — 437.5 thousand.
Within Old Moscow, in the first half of the year, developers offered buyers 17.7 thousand apartments and 2.8 thousand apartments, say the authors of the study from the Metrium company. Supply volume increased by 1%; demand fell by more than a third — by 36%. The distribution of supply by stage of construction readiness is comparable to the beginning of 2024.
And here are the main trends noted by experts.
Firstly, buyers sought to buy apartments with finishing, which is explained by the desire to include the cost of repairs in a mortgage loan.
Secondly, against the background of the ban on the construction of apartments in Moscow measuring less than 28 square meters (introduced by the city government in May 2024), prices for proposals of this format have increased significantly. At the same time, we recall that the limit on issuing preferential mortgages was six million rubles with a down payment of 30% of the cost of the apartment. Thus, the maximum cost of an apartment that could be afforded under state support was 8.57 million rubles maximum. Finding even a small one-room apartment or studio for this money was almost impossible.
Thirdly, from now on it will be possible, but difficult, to buy an apartment with an area of less than 28 square meters. Residential complexes that were approved before the ban came into force will be built, but in new projects that have not yet been approved, there will be no apartments up to 28 square meters.
— In this regard, changes can be expected in the apartment layout of new projects and the growth in the share of supply of one-room apartments,” comments Managing Director of Metrium Ruslan Syrtsov. — At the end of June, a square meter in apartments up to 28 square meters cost 437.5 thousand rubles (plus 11% for the second quarter). As for the supply volume of the remaining standard and comfort class apartments, I think that in the second half of the year it will continue to decline. However, there will be no reduction in prices after the cessation of preferential mortgages, since the most inexpensive compact apartments in new buildings are becoming scarce after the capital authorities banned their design.