Demand for secondary housing in Moscow decreased by 31% over the year – Kommersant

According to Avito Real Estate, over the year the demand for secondary housing in Moscow decreased by 31%, and prices increased by 6%, from 253 thousand to 269 thousand rubles. The cost per square meter in the old stock decreased over the year in 26 districts of the city.

In the Academichesky District (South-Western Administrative District), demand in the secondary market increased by 43% over the year, and the price per square meter decreased by 3% (to 311 thousand rubles), in Veshnyaki (Eastern Administrative District), interest in the old fund increased by 10%, and objects fell in price by 12% (to 238 thousand), in Yakimanka (Central Administrative District) demand increased by 7%, and prices fell by 21% (to 548 thousand rubles). The most noticeable increase in demand was recorded in Tekstilshchiki (YuVAO, by 84%), Yuzhny Medvedkovo (SVAD, by 84%), Nekrasovka (YuVAO, by 74%) and Pechatniki (YuVAO, by 74%).

Prices on the secondary housing market in terms of square meters decreased in 26 areas. The most noticeable decrease was noted in the Babushkinsky district (NEAD, by 29%), Northern Izmailovo (VAO, by 24%), Molzhaninovsky (SAO, by 23%), Savelovsky (SAO, by 22%). In October, on the secondary market of Moscow, the cheapest square meter was in Northern Izmailovo (Eastern Administrative District, 184 thousand rubles), Babushkinsky (SVAD, 191 thousand rubles), Molzhaninovsky district (SAO, 200 thousand rubles) and Kapotnya (South Eastern Administrative District) , 209 thousand rubles).

Analysts noted that in general, in October, activity in the secondary real estate market in Moscow decreased significantly. “This concerns not only a decrease in demand, but also a decrease in supply by 31% compared to October 2022. The reason for the decrease in interest in properties is the growing mortgage rates, since the key indicator of the Central Bank doubled over the year, from 7.5% to 15%,” explained Sergei Khakhulin, head of secondary and suburban real estate at Avito Real Estate.

The director of the financial stability department of the Central Bank, Elizaveta Danilova, previously noted that the difference in the cost of housing in new buildings and on the secondary market reached record values ​​- almost 42%. She noted that this gap is not decreasing, but is only increasing, despite preferential programs.

In October 2023, the rate of housing commissioning amounted to 6.5 million square meters. m, which is almost a quarter less than last year—this decrease is due to a significant reduction in the monthly commissioning of individual housing construction.

Details are in the material “Your home later”.

Laura Keffer