“Avito”: the demand for country houses in Russia fell sharply at the end of the year

Demand for the purchase of suburban real estate in Russia in the fourth quarter of 2022 decreased by 17% compared to the third quarter amid a decrease in supply by 9% and a rise in prices by 10%. This was announced by the Avito Real Estate service.

The biggest decrease, by 34%, was in buying dachas, which can be attributed to the seasonality of the market. Demand for the purchase of houses fell by 13%, cottages – by 11%, townhouses – by 3%. The number of proposals for the sale of suburban properties at Avito Real Estate also decreased over the same period – by an average of 9% across the country.

Prices for suburban housing on the platform on average in the market rose by 10% compared to the third quarter of 2022, to 2.6 million rubles. In the fourth quarter, the average cost of a cottage was 8.9 million rubles. (+2% compared to the third quarter of 2022), townhouse – 7.9 million rubles. (+3%), houses – 3 million rubles. (+13%), dachas – 680 thousand rubles. (+1.5%).

Sergey Khakhulin, head of secondary and suburban real estate at Avito Nedvizhimost, explained that the drop in demand is due to the season: in autumn and winter, people are less likely to buy country houses. The drop in demand by 12% compared to the same period in 2021, he explained the difficult economic situation in the country.

Avito Nedvizhimost predicts that prices for suburban real estate in 2023 may drop to 8–10% in the mass segment and grow by 10–15% in higher segments: this is affected by the cost of imported materials and construction standards.

Daria Erozbek