The expert explained why Sochi apartments overtook Moscow ones in price
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Everyone wants to buy housing in the south of Russia
A real boom in luxury housing is observed in Sochi. In March, 100 apartments were put up for sale in a seaside town, where the cost per square meter of housing is more than 1 million rubles! Note that the “elite” in Moscow costs a little less.
Why did wealthy buyers decide to settle in the resort capital of Russia? We asked an expert about this.
– The peak of growth in the average cost per square meter in Sochi occurred at the beginning of 2022, – says Ivan Kamelskikh, head of the press service of the federal company. – Then it exceeded 380 thousand rubles per square meter and overtook the capital. Now the price has slightly adjusted and the average cost is in the range of 320-360 thousand rubles. In the secondary market, housing is a little more affordable, at the level of 260-280 thousand. The most expensive options on the coast.
The reason for the rapid rise in prices was a whole series of factors, primarily the pandemic and the restriction of flights to other countries. As well as the adoption of a new master plan. That reduced the volume of housing under construction and spurred demand amid expectations of its deficit.
Of the million-plus cities, Moscow is in first place in terms of the average cost per square meter in the economy and comfort segment – 251.3 thousand rubles. And if in general for the market, then at the level of 320 thousand rubles. Then St. Petersburg (169.2 thousand) and Kazan – 136.8 thousand rubles. But high prices per square meter are noted not only in large cities. For example, in Novy Urengoy 134.2 thousand rubles and in Yuzhno-Sakhalinsk 151 thousand rubles.
In six million-plus cities, out of 16 in Russia, the average price per square meter exceeds 100,000 rubles. And the most affordable average price per square meter among the largest cities in Russia is in Omsk, Chelyabinsk and Volgograd.
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