Let’s go here – Newspaper Kommersant No. 183 (7384) dated 10/04/2022

Let's go here - Newspaper Kommersant No. 183 (7384) dated 10/04/2022

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In the first days after the announcement of partial mobilization in the country in the secondary housing market in Moscow, the number of applications for the urgent sale of apartments increased three times. Their owners, who tried to leave the country, were ready to sell housing at a discount of up to 20%. However, as early as next week the situation on the market somewhat stabilized, its participants note.

According to the results of September, the volume of supply in the secondary housing market of Moscow increased to 20%, calculated in IRN.ru. At the end of the summer, when the volume of supply also grew, those who bought them for investment purposes put up for sale their apartments. Market participants expected that the situation would stabilize in September. However, on Wednesday, September 21, partial mobilization was announced in the country, and by the end of that week, the number of applications for the urgent sale of apartments had tripled, says Sergey Shloma, director of the secondary market department of Inkom-Nedvizhimost. At the same time, in the first four days after the announcement of partial mobilization, demand decreased by 20%, adds Alexei Popov, head of CIAN.Analytics. “In fact, September 22-25 were the worst for the secondary market last month,” says Mr. Shloma. He compares this period with the end of February, when, after the start of the military special operation, the situation developed in a similar way. In both cases, those who made a spontaneous decision to leave the country put up their apartments for sale.

Having survived the first shock of partial mobilization, the secondary housing market then began to stabilize, experts say. So, according to Alexei Popov, following the results of 11 days after the announcement of mobilization in the secondary market of Moscow, the volume of offers turned out to be 7% higher year-on-year, and now from 39.2 thousand to 41.2 thousand lots are put up for sale in the secondary segment . Yulia Bocharnikova, a member of the steering committee of the federal real estate agency Etazhi, speaks of an increase of 6%. “Because of the uncertainty on the market, some sellers are withdrawing their properties from sale, and some owners, on the contrary, are trying to urgently sell their living space,” Mr. Popov notes.

Those who are urgently trying to sell apartments are ready to discount their assets by an average of 10-15%, a maximum of 20%, says Sergei Shloma. “There is no question of any 30-50%, and even more so of 60%, as previously reported by a number of media outlets,” he adds.

According to IRN.ru, in September, the average cost in the secondary market amounted to 257.7 thousand rubles. for 1 sq. m, which is only 0.7% less than in August. Alexey Popov talks about 304 thousand rubles. for 1 sq. m. Analysts have found that the prices are mainly falling in flats in prefabricated houses, while prices in stalinkas and new monolithic-brick houses have not changed over the month.

According to Yulia Bocharnikova, since September 29, buying activity began to recover, including due to private investors who began to look for objects at a discount. But Alexander Moskatov, managing director of the Miel network of agencies, is not so optimistic: “Some of the clients who decided to buy an apartment took a break, as some of them changed their minds about taking out a mortgage, while others decided to look at the further development of events.”

However, none of the experts interviewed by Kommersant expects an early recovery of the secondary real estate market. Sergey Shloma predicts a decrease in the volume of transactions in this segment in the short term by 10% at best, at worst – by 20%. The expert believes that one of the reasons for this trend is the inevitable decrease in the number of mortgage transactions, since those who fall under the mobilization and those who decide to leave the country are among the main recipients of housing loans and active participants in the real estate market. Such a reduction in potential buyers of apartments will put pressure on the price, Mr. Shloma predicts.

Yulia Bocharnikova expects significant discounts, primarily for illiquid assets. In general, according to her, now prices in the secondary market are kept by a stable price in the segment of new buildings and it is simply unprofitable for owners of apartments in already built houses to significantly reduce the prices of their apartments.

Daria Andrianova, Khalil Aminov

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