Prices have taken root in new buildings – Business – Kommersant

The restrained recovery of buying activity fails to reverse the trend in the primary real estate market: average prices are stagnating. Analysts note a gradual return of investment demand. But such buyers are often concentrated in the segment of secondary housing, where now you can expect to receive a significant discount. Market participants do not expect significant price fluctuations in the near future – developers are still cautious about pricing.

The average cost of new buildings in the 16 largest cities of Russia in September amounted to 130 thousand rubles. for 1 sq. m, an increase of 0.6% compared to the previous month. Such data are provided by CIAN.Analitika, stating that the cost of housing in the country continues to stagnate. Minor fluctuations are also noted by other market participants. In the company “Etazhi”, the average cost of primary real estate in Russia as a whole is estimated at 98.9 thousand rubles. for 1 sq. m. For the month, according to analysts, the figure fell by 0.57%. A slight decrease in average prices in major markets over the month was recorded in Avito Real Estate.

The most pronounced price reduction for new buildings in a month, according to CIAN.Analytics, there was in Chelyabinsk: the average decreased by 10%, to 78.8 thousand rubles. for 1 sq. m. But the dynamics is largely related to the change in the structure of supply: for the month its volume has grown by one and a half times. In other markets, fluctuations were much less pronounced. “Etazhi” notes a decrease of 0.32% in the average cost of new buildings in Ufa, up to 101.43 thousand rubles. for 1 sq. m. Avito Real Estate recorded a reduction in the average housing index in Omsk by 3% per month, up to 89.6 thousand rubles. for 1 sq. m.

In Moscow, according to CIAN.Analitiki, new buildings now cost an average of 324.6 thousand rubles. for 1 sq. m. Over the month, this value increased by 1.1%, over the year – by 14.1%. In St. Petersburg the same dynamics amounted to 0.5% and 22.4%, respectively, to 166.1 thousand rubles. for 1 sq. m. The markets of the largest cities, according to the head of “CIAN.Analitiki” Alexei Popov, show a recovery in demand. Thus, in the Moscow region, the number of equity participation agreements concluded in August increased by 8% compared to July, in St. Petersburg and the region – by 10%. The dynamics is positive, but not as pronounced as expected by market participants, states Mr. Popov. In the first week of September, user activity in terms of viewing ads was comparable to the same period in August.

Moderate demand growth is typical for regional markets as well.

The head of the primary direction of Avito Real Estate, Dmitry Alekseev, indicates that in Russia as a whole, user activity increased by 8.3% over the month.

The expert noticed the most striking dynamics in Kazan and Volgograd – an increase of 11.2% and 9.8%, respectively. Investors come to the market, but often make a choice in favor of secondary housing, explains the head of the center of new buildings of the company “Etazhi” Sergey Zaitsev. Finished real estate, according to him, has become more attractive to buyers due to the discount policy: the average difference between the offer and sale price in August exceeded 6%. It is this factor, according to the expert, that also holds back prices for new buildings. Although in favor of the latter, buyers who attract borrowed funds often choose due to the large volume of preferential programs, Mr. Zaitsev states.

The volume of supply of new buildings in the conditions of limited demand, according to the forecasts of Alexei Popov, will continue to grow systematically. The expert calls the dynamics of sales insufficient to wash out new products from the market. The current situation encourages developers in general to carefully approach pricing: after the March jump, we are actually talking about zero dynamics, he states. This thesis is well illustrated by the fact that since the beginning of the year the average cost per square meter in million-plus cities has grown by 11% against 21% over the same period last year.

The balance achieved in the primary real estate market, according to Sergey Zaitsev’s forecasts, will be maintained in the short term. “The situation with prices is unlikely to be homogeneous, and in some cities growth of up to 1% per month is not ruled out, in others a commensurate decline,” he argues. At the same time, TrendAgent CEO Ksenia Zhukova does not see any prerequisites for a noticeable reduction in prices for new buildings, assuming that the activity of investors in the face of limited investment opportunities in the real estate market will increase.

Alexandra Mertsalova