Developers are selling off their remaining balances – Kommersant FM
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In the capital, the price of new resale housing has dropped significantly. As noted in a study by analysts from NDV Real Estate Supermarket, the average price of a comfort-class apartment in ready-made buildings has decreased by almost 2.5 million rubles. We are talking about housing that was not sold during the construction phase and is sold by developers as leftovers. The cost per square meter in such facilities in September averaged 256 thousand rubles, which is 22.5% less than a year ago. But in general, such an apartment in September cost less than 16.5 million rubles.
In fact, we are talking about a special development product, the share of which in the market is quite significant, Elena Chegodaeva, head of the analytics and consulting department of the company NDV Supermarket Real Estate, told Kommersant FM:
“The situation has developed that the share of comfort-class housing introduced and, let’s say, unsold at earlier stages is 20%. This is due, on the one hand, to the increase in supply in this category during the end of 2022-2023 and, on the other hand, to the fact that the main share of sales occurs at the installation stage. Approximately 57% is sold during this period.
As a matter of fact, at these stages the main increase in the weighted average price per square meter occurs. As for the introduced housing, today it is presented in 44 districts of Moscow. A year ago, such apartments could be bought only in 24 districts.
What is the reason for the fact that such apartments are sold much cheaper? Partially, of course, the overheating of prices at earlier stages of sales also has an effect, plus there are still some illiquid lots left. But in general, there is no need to say that this is some kind of illiquid housing. Rather, it’s just an unsold product from the developer.”
Apartments in already completed buildings, in addition to the reduced price, have other serious advantages from the point of view of buyers, noted Artem Tsogoev, a member of the board of directors of the Simple Estate investment platform:
“The advantage of this development product is that it is a new house, it has been put into operation, and there are no longer any risks. This is not DDU. You must understand that even if the house is completed, it needs to be connected to communications, utility networks, and so on, so passing it to the state commission is an important stage. That is, this suggests that the house can function, and people can live in it. Of course, there are no risks when purchasing apartments of this kind, especially if the developer sells it himself.”
Most likely, in the foreseeable future, the market share of apartments sold by developers in already completed buildings will grow, as well as the discount on them, says Alexander Krapin, president of the Rway group of companies:
“The tactic of selling the remaining apartments after putting the house into operation has always been present on the market. And prices for such lots were below the market average for this type of housing. But now, as business activity declines, there are likely to be larger balances than during more stable periods of the market, and this practice will continue. Developers will offer apartments at a lower cost to replenish their financial reserves for the implementation of future projects.”
According to analysts at NDV Supermarket Real Estate, lots with the lowest average price per square meter in finished houses in September were presented in Nekrasovka – 162.5 thousand rubles. and Kosino-Ukhtomsky district – 164.5 thousand rubles.
Everything is clear with us – Telegram channel “Kommersant FM”.
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