The apartment is not on the market – Newspaper Kommersant No. 212 (7413) dated 11/16/2022

“It seems ridiculous, but people are buying such housing,” said Igor Shuvalov, then First Deputy Prime Minister, in 2016, when he first examined the 20-square-meter studio. m. Six years ago, this phrase became a meme, but now the news about the appearance of another ultra-small apartment in Moscow will not surprise anyone for a long time – this format has long become familiar to residents of large cities. This is largely due to the strategy of developers, for whom the introduction of small lots on the market has become a typical reaction to the crisis. The average cost of a small apartment is lower. As a result, according to NDV estimates, the average area of ​​even comfort-class housing on display within the old boundaries of Moscow has decreased by 25% since 2018, and the size of some apartments does not exceed 24 square meters. m.

But, apparently, the market will soon have to look for a new survival strategy. The trend change is well illustrated by the data from Cyan.Analytics. If the share of flats and apartments up to 20 sq. m in the overall structure of supply in the primary market of the Moscow region since the beginning of the year increased from 2% to 3%, in the total volume of transactions, on the contrary, it decreased from 3.5% to 2%. Recession was outlined also in the secondary market. According to Avito Nedvizhimost’s estimates, studios in large cities of the country turned out to be the only format in October where the weighted average price for the month decreased by 1.3%.

The decline in interest in studios can be easily attributed to the outflow of investors, for whom such a format has always seemed attractive. According to the agency “Etazhi”, now such buyers form 9% of transactions in the mass segment, while a year earlier the figure reached 18-20%. There are no prerequisites for a quick return of investors to the market: the demand for rental housing remains low, and the prospects for a noticeable increase in its value are vague. The idea of ​​buying a small apartment for living seems doubtful to many compatriots – this format is still suitable for a limited number of citizens. These are mainly young people, many of whom can already pick up options on the secondary market, perhaps even at a discount.

This reversal of the trend is quite natural, because the architects of the era of constructivism have already unsuccessfully tried to accustom Russians to life in “cell apartments”. It remains to find out who will suffer more from a change in consumer sentiment – miscalculated developers who have included a large share of small-sized lots in the flats of unbuilt houses, or buyer-investors who followed the fashion at the studio and invested in them during the years of peak prices. Under the conditions of the new conjuncture, an insignificant layer of Russians, who really needed such housing for their own needs, will definitely win.