in February, only budget housing rose in price

In February, there were no significant changes in the secondary real estate market of Moscow and the Moscow Region compared to the previous month, and the fluctuation of average prices amounted to a fraction of a percent.

In the last winter month, the average price per square meter in “old” Moscow amounted to 252,472 rubles, which is 0.3% more than last month. In New Moscow, housing has risen in price by an average of 0.4% – up to 196,800 rubles per square meter, in the Moscow region – by 0.1% at all, up to 150,750 rubles per “square”. Such data were presented by the analytical center “Indicators of the real estate market”.

At the same time, according to experts, the rise in price per square meter was mainly due to budget housing: in Moscow, these are apartments in old panel and brick houses located in the South-Eastern, Northern and Eastern districts, and in the Moscow region – housing in the far suburbs, “odnushki”, apartments in panel houses in New Moscow.

Traditionally, the real estate market begins to intensify in the spring. And that usually drives up prices. However, this year it is not worth waiting for a significant rise in real estate prices in the Moscow region – supply is still higher than demand, the majority of those who could afford it took advantage of preferential mortgage opportunities, and the cost of a “square” over the past years has grown so much that the purchasing power of the population has declined to no. The only thing that can revive the secondary housing market is the Bank of Russia’s ban on near-zero mortgage rates in the primary housing market. There is a possibility that, having lost such a “bonus”, potential buyers of real estate will pay attention to the secondary market.

Alena Bodrienko.

Photo by Sergey Kiselyov / Moskva agency