Buyers of apartments near Moscow have changed their priorities

“The main trend of the first quarter is that in the Moscow region, demand from small-sized apartments is shifting towards more spacious ones,” Alexander Ivanov, leading analyst at the Etazhi company, told MK. According to him, against the backdrop of expensive mortgages, citizens on the secondary market are mainly not buying starter housing, but improving their living conditions. They do not need a large amount of borrowed funds or are in the process of selling their property and are taking out a mortgage for a short term. As a result, in both the first and second cases, their overpayment is not very high.

There are few investors in the secondary market. According to the general director of the World of Apartments portal, Pavel Lutsenko, today the profitability of an apartment in the Moscow Region averages 5.5% per annum and pays off in 18 years.

According to realtors, about 50% of transactions are the purchase of studios and one-room apartments. There is interest in both old and new housing stock.

Another important trend is that there is a massive reorientation of consumers who were planning to buy housing in the capital, in the Moscow region,” noted Elena Mishchenko, head of the urban real estate department of the NDV Supermarket Real Estate company. According to her data, by March 2024, about 20% of secondary buyers had already changed their decision to purchase a lot in Moscow and began to consider options in the Moscow region, most often in its closest districts – no more than 20 km from the capital. This trend began to emerge at the end of 2023, and from the beginning of 2024 it continued to gain momentum. The reason is high mortgage rates for housing from the owner, reaching 17–18%, and prohibitive monthly payments, often exceeding 100 thousand rubles. and even 200 thousand rubles.

The vast majority of buyers are young people under the age of 35,” Mishchenko told MK. According to her, older people are not always ready to refocus on the region and are more often looking for alternative options for purchasing housing in the capital. The younger generation chooses the Moscow region because they understand that there is not yet a sufficient “Moscow budget”, and mortgage conditions in the future will most likely change, just like individual life and financial situations. This means that after a while the regional apartment can be sold and the lot can be bought in the capital.

Among the parameters that buyers of secondary housing in the Moscow region pay most attention to is transport accessibility: the proximity of electric train stations, bus stops, from which you can conveniently and in a relatively short time get to work in Moscow. The second factor is the view from the window. The main requirement of clients who apply for apartment selection in the region is “The main thing is that it does not have a view of the highway.” In general, buyers are not against purchasing housing close to the road, but the priority from the window should be to the courtyard, local park, pond, etc.

Sellers always give preference to buyers with cash, especially now that it has become more difficult to sell an apartment. As Alexander Ivanov believes, the main motive for bargaining is declining purchasing activity. Competition between sellers is growing, buyers are looking at more properties, and this forces owners to bargain more actively in order to speed up the sale.

According to Elena Mishchenko, the standard discount is 50 thousand rubles. Almost every owner is ready to give up this amount, but few sellers are willing to negotiate more. Only about 15% reduce the cost by 100-200 thousand rubles. This low share is explained by the fact that, as a percentage, the same 200 thousand versus the cost of the apartment is a serious and tangible amount.

Of course, first of all, the cost of secondary apartments depends on the location. For example, in Lyubertsy (5 km from the Moscow Ring Road) a one-room apartment in good repair with an area of ​​30 to 40 sq. m. m will cost 7-8 million rubles. In Tomilino, the price tag for a similar lot is already lower – 6–7 million rubles.

In the 1st quarter, the price of resale in the Moscow region increased by 0.8%, and supply fell by 3.5%, a “square” now costs 151,092 rubles, the average apartment costs 7,869,069 rubles, Lutsenko noted. Demand this year is lower than at the beginning of last year, as prices have risen even more and mortgage interest rates have become prohibitive. The offer located 30 km from the Moscow Ring Road differs in price from those properties located near Moscow. The price may be 30-50% lower.

According to calculations by the head of the AC “Real Estate Market Indicators” Oleg Repchenko, at the beginning of this spring the most affordable housing on the secondary market of the Moscow region is offered in Shatura and Roshal (an average of 76,195 rubles per sq. m, which is 0.7% lower than a month ago), in Kashira and Ozherelye (79,430 rubles, +1.4% per month), in Yegoryevsk and Kurovsky (84,180 rubles per sq. m. +1.2%).

Volokolamsk was also among the most affordable cities near Moscow, with an average cost of a residential square meter of 85,560 rubles. (+1.5% per month, see table). Next come Voskresensk, Orekhovo-Zuevo, Pavlovsky Posad, Mozhaisk, Ruza, Tuchkovo, Serpukhov, Mikhnevo, Elektrostal and Elektrougli. 1 square meter of housing in these cities will cost less than the regional average. Based on the results of February 1st quarter. m on the secondary housing market in the Moscow region costs 154,635 rubles. on average (+0.2% per month).

Cities near Moscow with a minimum average price of 1 sq. m of housing

No. District Price, rub.

1 Shatura, Roshal 76 740

2 Kashira, Necklace 78 370

3 Egoryevsk, Kurovskoye 83 175

4 Volokolamsk 84 300

5 Voskresensk 86 370

6 Orekhovo-Zuevo, Pavlovsky Posad 95 920

7 Mozhaisk, Ruza, Tuchkovo 98 870

8 Serpukhov 102 125

9 Elektrostal, Elektrougli 102 500

10 Noginsk, Chernogolovka 102 900

11 Mikhnevo 103 000

According to IRN.RU

“Today housing in the Moscow region is greatly overvalued, especially inside the Moscow Ring Road. Therefore, demand flows to the Moscow region, where for the price of a studio in the capital, a family can afford a relatively spacious apartment. And this fact has so far held down the cost of a meter in the region, preventing prices from creeping back,” Repchenko emphasized.

According to Mishchenko’s forecast, over the next two to three months prices for secondary housing in the region will be adjusted downwards. On average, the cost will drop by 5-10% depending on the location. Seasonality will affect. In the summer, the demand for real estate decreases, and many owners reduce the price in order to quickly sell the property and resolve their financial issues. Of course, there are those who are in no hurry and are ready to postpone implementation until the fall. Such sellers remove advertisements from sale so as not to reduce the price during periods of low demand.

According to Lutsenko, prices will slowly rise in the coming months, reaching the primary level. But after the cancellation of the main preferential mortgage program (from July 1, 2024 – Ed.), growth may stop and even a correction may begin. This, in his opinion, will depend a lot on how prices for new buildings behave: whether developers will reduce them or wait. “In any case, you shouldn’t expect a sharp collapse in prices this year,” the expert concluded.