Avito Real Estate: in the first quarter of 2022, demand in the secondary market grew by 3.5%
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The demand for apartments in the Russian secondary market for the first quarter of 2023 increased by 3.5% compared to the fourth quarter of 2022, Avito Real Estate reports (Kommersant has the data). The volume of supply for the same period decreased by 3.3%.
“Now we see a gradual recovery of demand to the levels of the beginning of last year. Buyers have access to significantly more properties than a year earlier, there is plenty to choose from, there is no hype, prices have froze, ”said Sergey Khakhulin, head of secondary and suburban real estate at Avito Real Estate.
On average, in Russia for January-March 2023, the “square” increased in price by 3%. The largest growth was shown by the “secondary” in Perm (+6.1%), Kirov (+5.9%) and Chelyabinsk (+5.7%), the largest drop was in Kaliningrad (-2.8%) and St. Petersburg (-2.1%).
“Gradually, the revival of demand will reduce the supply and possible discounts in the bargain. While maintaining the current dynamics of recovery in the activity of buyers, a gradual increase in prices is also possible,” Mr. Khakhulin believes.
About how the cost per square meter will change in the capital in 2023 – in the material “Kommersant FM” “The real estate market is cooling down”.
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