Developers gathered at the dacha – Newspaper Kommersant No. 10 (7455) dated 01/20/2023
[ad_1]
The growing demand for suburban real estate in the midst of a pandemic convinced developers to work more actively in this segment. During the year, sales began in a record number of new projects in 15 years, and the volume of initial supply increased by a third. But not all potential buyers are ready to invest in high-budget suburban real estate in the face of uncertainty. This can increase the timeframe for project implementation.
The volume of supply of high-budget suburban real estate in the primary market of the Moscow region in January amounted to 260 lots, an increase of 35% over the year, according to a study by Intermark Real Estate. The growth was due to the high activity of developers: during the year they started selling lots in six projects – this is a record for 15 years. At their expense, the market will be replenished with 600 lots, but all of them went on open sale. This is equivalent to the total volume of supply, withdrawn by developers for seven years, specify in Intermark Real Estate. Analysts add that in previous years, one or two new projects entered the market.
Metrium Premium also noticed an increase in the activity of developers: sales of several villages started, supply in existing ones increased, the number of developers’ requests for land increased. Sergey Kolosnitsyn, director of the residential real estate department at Penny Lane Realty, points out that nine villages are currently exhibited on the primary market, where 1,000 lots are available, which is significantly more than the pre-pandemic figure.
Anna Radzhabova, director of the elite real estate department at Metrium Premium, considers the increase in development activity to be a response to the growing interest in living outside the city since the beginning of the pandemic. But last year, this dynamic was corrected by the complication of the geopolitical situation. According to NF Group estimates, 131 lots were sold in the primary market of the Moscow region in 2022, which is 45% lower year-on-year. The decrease in the number of transactions, according to analysts, was largely due to the lack of supply. Mikhail Dolgov, head of the suburban real estate department at Kalinka, notes that in the deluxe segment, demand significantly exceeds supply.
According to Intermark Real Estate, 29% of the new supply in the primary market are ready-made houses, the remaining 71% are plots with and without a contract. The average cost of a cottage sold last year in premium destinations in the Moscow region increased by 59% over the year, to 157.9 million rubles. Plots have risen in price by 17%, up to 4.9 million rubles.
The growing supply makes consultants optimistic about future sales. Ms. Radjabova points out that Russians who did not link their future with Russia have already left the country. The remaining potential customers, she said, are already beginning to return to the market. The sales director of the construction company Halle House Vyacheslav Kotlov also speaks about the growing activity. But AREA representative Igor Malinovsky draws attention to the fact that not all buyers in the face of uncertainty in the economy and politics will be ready to invest in country houses.
In his opinion, this caution will inevitably lead to an increase in the terms of project implementation, depriving developers of the desire to bring new objects to the market. Since March of last year, according to Mr. Malinovsky, companies have entered the sites that could not move the scheduled implementation dates. Ekaterina Kogan, Director of the Marketing Department at FGC Family, draws attention to the fact that the development cycle lasts an average of a year and a half, and in some cases more than three years.
To return developers to the implementation of “long” and capital-intensive projects, stability is still needed, Mr. Kolosnitsyn agrees. Nina Reznichenko, director of the out-of-town real estate department at Intermark Real Estate, points out that in the foreseeable future, the out-of-town market will be replenished with new phases in the settlements put on the market in 2022. The appearance of absolutely new projects this year on the market, according to the expert, has not yet been announced by any of the developers.
[ad_2]
Source link
