It's better not to come to the capital without five million
Many Russians, due to the wild rise in real estate prices, are not able to assess the value of even their own housing. They are helped only by statistics. For example, in July, the minimum price of a capital apartment within the Moscow Ring Road was 5.4 million rubles. We are talking about a «odnushka» with an area of 23 square meters in the Lyublino area. These are the data of Dolgov pro. What kind of real estate can be bought for this money in other areas of Moscow, we asked the experts.
— In the new buildings of old Moscow for 5.4 million, you probably won’t buy anything. But on the secondary market you can buy a studio, — says Pavel Lutsenko, director general of the federal portal World of Apartments. For example, a studio of 22.5 sq. m (the first floor of an 8-storey brick house) for 5 million rubles.
If you add a little, you can buy a «odnushka» with a total area of 39.4 square meters. m (room — 20.3 sq. m, kitchen — 12.3 sq. m) on the 13th floor of a block house built in 1980 at the end of the Yaroslavl highway for 6 million rubles.
For the amount of 5.4 — 6.4 million rubles in Moscow within the Moscow Ring Road you can only buy a studio with an area of 15-17 «squares». As for housing behind the ring road, the minimum cost per square meter is 162,000 rubles. Such a proposal is presented in the Kosino-Ukhtomsky district of the capital.
Next come the same castle districts: Nekrasovka (185 thousand rubles per square meter, also outside the Moscow Ring Road), Old Kryukovo (Zelenograd, 188 thousand), Khovrino (206 thousand). A year ago, the cost per square meter of an apartment in the capital was higher on average by 20%.
Elena Chegodaeva, head of the analytics and consulting department at NDV Supermarket Real Estate, says that, as of July 11, 298 apartments in new buildings are being sold in Moscow at a price of 5.2 to 6 million rubles. Most of it is located in the Lyublino region (53%), Kuzminki is in second place (14%), and Ochakovo-Matveevskoye is in third (12%). For this money you can buy a studio with an area of 19.8 square meters.
Managing partner of Dombook, founder of BEST-Novostroy Irina Dobrokhotova supports her colleagues: in old Moscow, apartments worth up to 5.4 million rubles are presented in eight projects are studios ranging from 11 to 20 square meters.
Underestimated areas in terms of value are mainly located outside the Moscow Ring Road. Among them are South Butovo, Molzhaninovsky, Zelenograd Staroe Kryukovo and Kryukovo, says Elena Chegodaeva. As a rule, transport accessibility is just beginning to improve in these areas and new social infrastructure facilities are emerging. The average price per square meter in these areas is the lowest — about 240 thousand rubles, which is 15% less than the average value for the market of the mass segment of old Moscow (283 thousand rubles).
The overvalued areas include those in which many new comfort and business class houses appear: Danilovsky, Kuntsevo, Ramenki, Khoroshevo-Mnevniki. In these areas, the price of a «square» is more than 480 thousand rubles — 31% higher than the average cost of housing in Moscow.
— The volume of supply in the market of old Moscow increased by 24% over the year due to falling demand, therefore developers are forced to cut prices. However, they are reluctant to do so, — continues Elena Chegodaeva. — Declared level of discounts for the last year has increased to 30%, but real discounts can be 10-12%.
The square meter grows by a maximum of 0.8% per month. Over the year, prices for new buildings can grow by no more than 5.6-6.5%, the analyst believes.
— Housing is becoming more expensive, but without sharp jumps, as it was in 2020. Planned price increases are associated with inflation and rising costs of building materials, finishes, and equipment, says Yana Glazunova, CEO of VSN Realty.
In the regions, for example, in Rostov-on-Don, Volgograd, Ufa, Krasnoyarsk, Samara, Tula, Vladimir, Kaluga, Yaroslavl, Omsk, you can find a luxurious one- or two-room apartment for 5.4 million rubles. In Chelyabinsk, Smolensk, Kurgan, Orenburg or Magnitogorsk — even a three-room apartment. And this, according to citizens, is a completely different Russia.
Head of the Analytical Center «Real Estate Market Indicators» Oleg Repchenko says that in Moscow the average cost of a meter of housing in the primary market exceeds 400 thousand rubles. «Prices at a high level at the primary level support preferential state programs,» the expert states.
At the same time, in the secondary market of Moscow, where there are no programs supporting demand, a square meter of housing costs an average of 254,000 rubles. In 36 districts of the capital, a meter of housing will cost buyers less. These are mainly areas of the north, where a meter of housing costs 247 thousand on average, northeast (228 thousand), east (228 thousand), south (232 thousand) and southeast (220 thousand).
— The cost of a meter in the secondary housing market in Moscow has been marking time for the past six months after a significant decline last year (minus 7.5% in eight months).
Price fluctuations do not go beyond the statistical error. In the market of new buildings, prices in the price lists of developers also do not grow and do not fall. But due to discounts of up to 20%, which became the norm after the ban on «near-zero» mortgages, the cost of the transaction was slightly blown away.
We see no reason for price growth in the foreseeable future, unless there are any force majeure events. In the short term, price dynamics in the secondary market will largely depend on the situation in the primary market: if the cost of new buildings creeps down, prices for the «secondary» will also decrease, Oleg Repchenko predicts.