CIAN: revenue of Moscow housing developers for 2022 decreased by 13%
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The total revenue of developers working in the Moscow region with housing in 2022 decreased by 13% compared to 2021 and amounted to 1.63 trillion rubles.
Sales of new buildings over the past year decreased to 134.5 thousand contracts of equity participation in construction (-21% from 2021 figures). With this reduction in demand returned to the level of five years ago.
At the same time, the company noted that revenue did not decline as much as the number of transactions, as the cost of housing increased. The bulk of the proceeds came from the projects of the “old” Moscow – 64%. These projects have been leading in terms of revenue for more than a year: in 2021 – 65%, in 2020 – 64%.
It also follows from the report that the price per square meter in new buildings in the Moscow region increased by 6.5% over the year, to 260.3 thousand rubles. as of early January 2023. In Moscow, the cost increased by 2% (up to 311.7 thousand rubles), in the Moscow region – by 11% (up to 166 thousand rubles).
Analysts note that in comparison with 2021 (+28%), in 2022, the growth in prices for primary housing in the Moscow region slowed down. Between April and November last year, there was stagnation, and in the last two months of the year, developers switched to discounts, and in some cases, to a direct decrease in the cost of housing in connection with criticism of the near-zero mortgage rate by the Bank of Russia.
In November last year, the Chairman of the Central Bank of the Russian Federation, Elvira Nabiullina, announced that in early 2023 the Bank of Russia would limit the issuance of “mortgages from the developer” at near-zero rates. According to her, the regulator’s measures will reduce the risks of near-zero mortgages for borrowers and credit institutions. A number of experts believe that the decision of the regulator will lead to a drop in housing prices by a third.
More details – in the material “Kommersant” “Just Marketing”.
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