The rise in prices for new buildings in the Moscow region has become more pronounced

The rush demand for new buildings in August led to an increase in prices on the primary housing market in the cities of the Moscow agglomeration by 7% year-on-year. The dynamics turned out to be more pronounced than in the capital itself. The most expensive new buildings near Moscow are concentrated in Reutov, where the cost of supply increased by 18% over the year, and the most budget ones are in Lytkarino, where average prices have hardly increased.

The average cost of new buildings in Moscow’s satellite cities increased by 7% for the year, to 191 thousand rubles. per sq. m based on the results of August, calculated in Avito Real Estate. The dynamics turned out to be more pronounced than in Moscow, where prices over the year increased by 2.5%, to 302.6 thousand rubles. per sq. m. According to calculations by Cian.Analytics, the average cost of primary real estate in the Moscow region by mid-September increased by 2.7% year-on-year, to 170.6 thousand rubles. per sq. m. In Moscow, prices increased by 2.3%, to 332 thousand rubles. per sq. m.

The more pronounced increase in the cost of new buildings in the near Moscow region is explained by high demand, which increased by a third over the year, while the increase in supply is less pronounced – by 22%, says Dmitry Alekseev, head of the primary direction of Avito Real Estate. In his opinion, August had a significant impact on the market. According to analysts, potential buyers sought to conclude deals this month due to anticipation worsening conditions on mortgage loans due to an increase in the key rate of the Central Bank and increase from 15% to 20% of the minimum down payment for lending programs with state support.

In Moscow In August 2023, 11.5 thousand equity participation agreements (EPA) were registered, which was a record value for the last year and was 68% higher than the figure for August 2022. In the Moscow region the number of contracts received for registration increased by 87% year-on-year, to 7.9 thousand. In such conditions, due to the washout of supply, the main annual increase in prices occurred in August. According to Cian.Analytics, the average cost of new buildings in Moscow increased by 1% this month, and in the Moscow region by 2.8%.

The average cost of a lot in the satellite cities of Moscow in Avito Real Estate is estimated at 8 million rubles, in the capital itself – at 15.7 million rubles.

The most pronounced price increase among satellite cities of Moscow in Avito Real Estate was recorded on the primary market Reutova. Over the year, the average cost of housing here increased by 18%, to 247 thousand rubles. per sq. m, and the average lot rose in price by 32%, to 9.6 million rubles. These are the highest figures among Moscow’s satellite cities. Reutov’s share accounts for 3% of the total supply in such locations. New buildings Mytishchi, which account for 6% of the exposure, rose in price by 13% over the year, to 206 thousand rubles. per sq. m. The lot budget here increased by 19%, to 8.9 million rubles, as calculated by Avito Real Estate.

According to Avito Real Estate, 20% of the supply of new buildings in the near zone of Moscow is concentrated in Vidnoye. The average cost of properties in the city increased by 11% over the year, to 182 thousand rubles. per sq. m, and the average lot rose in price by 5%, to 7.1 million rubles. The most budget options are concentrated in Lytkarino, where the cost of the primary supply year on year on average increased by only 2%, to 124 thousand rubles. per sq. m. Decline average price by 9% year-on-year, to 189 thousand rubles. per sq. m, analysts noted in Dolgoprudny.

Alexandra Mertsalova