Avito Real Estate recorded a decrease in demand for apartments in new buildings in the Russian Federation by 6%
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Demand for apartments in new buildings in Russia decreased in the second quarter by 6% compared to the first quarter, said Avito Real Estate. The supply increased by 12%. Only in two of the 33 cities that participated in the study, there was a reverse trend – in Moscow and Kaliningrad.
Demand for one-room apartments decreased by 5%, for two-room and three-room apartments – by 7%, for four-room apartments and more – by 10%. Demand for the studio has not changed. The head of primary real estate at Avito Nedvizhimost, Dmitry Alekseev, explained the increase in supply by the fact that development projects have been implemented for several years, therefore “housing that was designed and built taking into account the demand for objects in 2020–2021 continues to enter the market.” In his opinion, the imbalance of supply and demand will lead to the formation of a buyer’s market.
Demand fell most of all in Barnaul (22%), Tomsk (20%), Ulyanovsk (19%), St. Petersburg, Kazan and Tula (18% each), increased in Novosibirsk (26%), Moscow (12%) , Kaliningrad and Krasnodar (9% each). Supply increased the most in Bryansk (85%), Tyumen (44%) and Tomsk (34%).
Prices in Russia in the second quarter rose by a total of 1%. Most of all – in Kirov (9%), Krasnoyarsk, Saratov and Tomsk (6% each). The cost of housing decreased in Ufa, Stavropol (5% each), Ulyanovsk, St. Petersburg (4% each), Moscow, Ryazan and Simferopol (3%), Kaliningrad (2%) and Voronezh (1%).
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