More than 80% of buyers of apartments in new buildings in the southern capital are married
Sochi has traditionally been a city developed by mid-sized companies. In 2020, they provided four-fifths (80%) of the total supply in the upper segments. Five years later, their consolidated share dropped to one-third (32.5%). First of all, this is due to the expansion of companies that are in the top hundred of the all-Russian rating for the volume of current construction.
The vast majority of buyers in the primary real estate market in Sochi are married couples. They account for more than 80% of transactions completed in the first half of this year. Men are more likely to buy housing than women, but this difference is small — 52% and 48%, respectively.
As for the purpose of purchase, most often real estate in Sochi is chosen for permanent residence — 28.7% of the total number of transactions. Another 19.3% of owners of new apartments purchased them for seasonal use, slightly less — 18.8% — plan to receive income from the resale of the lot in the future. In addition, every tenth intends to rent out the purchased property.
According to respondents' answers, the majority of transactions were concluded using the mortgage lending mechanism – this helped 68.5% of buyers find real estate. 17% of respondents were able to fully pay the entire cost of housing at one time, the rest took out an installment plan. At the same time, over the past six months, 37.5% of apartments in Sochi were purchased using “Family Mortgage”, 29.5% – with state support, 15% – on mortgages for IT specialists, says the deputy commercial director of the federal developer Neometry. Anna Sapegina.
Sochi is the only city in the country with such a large volume of high-budget real estate. The share of elite and premium projects in the main Russian resort reached almost 35% by 2024, while in Moscow it does not exceed 22%, noted the experts of the Urban award.
Over the past few years, Sochi has confidently been among the top three cities, along with Moscow and St. Petersburg, where elite real estate is represented in the largest volume. And it is quite natural that now Sochi has overtaken even the capital in the share of premium and elite projects. Sochi was and remains the most developed resort location in Russia. The city's infrastructure has changed qualitatively over the past three years. International events held here have confirmed Sochi's status as a center of not only recreational, but also business tourism. Add to this the natural opportunities, subtropical climate – and we will get an objective picture of the attractiveness of the resort capital of Russia for high-budget real estate, says Deputy General Director, Commercial Director of the developer of resort real estate FIVE Elena Kabesheva.