“Avito Real Estate”: prices for the “secondary” increased by 13.5% over the year
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In February 2023, demand in the Russian secondary real estate market increased by 1.5% compared to January, but decreased by 3.7% over the year, according to Avito Nedvizhimost data.
According to the study of the service, last month the demand for “secondary” increased most in Moscow (by 23.9%) and Yekaterinburg (22.1%), and decreased most of all in the Leningrad region (15.7%). The volume of supply in the market increased by 7.6% compared to January, and by 24.1% over the year. The Leningrad region (55%) and St. Petersburg (44.1%) became the leaders in terms of supply growth for the year.
The cost of apartments has not changed compared to January, and prices have increased by 13.5% over the year. Apartments in Chelyabinsk went up the most (by 22%), prices fell in St. Petersburg (6.8%). Compared with January, the cost of 1 sq. m increased by 1.3%, for the year – by 16.4%. Most significantly, it rose in price in Chelyabinsk (by 18.8%), and decreased in St. Petersburg (2.7%).
Meanwhile, against the backdrop of declining activity of buyers, housing prices in Russia’s largest cities are stagnating. According to Cyan.Analytics, the average declared cost of new buildings in 18 largest regional markets of Russia (16 million-plus cities, Moscow and Leningrad regions) increased by 0.2% over the past month, to 139.9 thousand rubles. per sq. m.
Details – in the publication “Kommersant” “Prices lack demand”.
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