housing market

Prices for real estate near Moscow continue to rise, but their growth rate is becoming slower. If in the primary market housing under construction rose in price by an average of 2.5% in October, in the secondary market it increased by only 0.4%. Maximum demand remains for small apartments located in the lower price segment.

Primary market

High prices for real estate under construction in the capital played in favor of the Moscow region, where the flow of buyers who were unable to realize their needs in the capital headed. In 2004, more than 300 new houses were built in the Moscow region (the area of the apartments in them was almost 3 million sq. m), and the apartments in them were much cheaper than in Moscow. For example, in the Lyubertsy district alone, about 30 new buildings are at the construction and implementation stage; significant volumes of unsold housing are concentrated in Khimki, Krasnogorsk, Balashikha and other cities. According to the MIEL-Real Estate company, within a radius of up to 10 km from the Moscow Ring Road you can still buy an apartment in a building under construction at a price of $720-750 per 1 sq. m. m. However, the constant influx of buyers contributed to rising prices in the Moscow region.

In the region as a whole, prices on the primary market increased by 2.5%. According to MIAN Corporation, the increase in prices for living space in different cities of the Moscow region was closely linked to the demand for apartments of a specific size and number of rooms. Thus, in the northern Moscow region in the cities of Khimki, Korolev, and Mytishchi in October, the maximum prices were for living space in one-room apartments (on average $908 per 1 sq. m.), and the minimum for two-room apartments - $873 per 1 sq. m. m. In the east of the region in the cities of Dzerzhinsky, Lyubertsy, Reutov and Balashikha, two-room apartments have become more expensive than others ($842 per 1 sq. m). In the south of the Moscow region in the cities of Vidnoye and Shcherbinka, the most rising prices were also two-room apartments ($898 per 1 sq. m), and in the west - in Odintsovo and Krasnogorsk - one-room apartments ($954 per 1 sq. m).

Specialists from the MIEL-Real Estate company note an increase in the number of regional apartments purchased using mortgage loans. This process has especially intensified in the cities of Mytishchi, Zheleznodorozhny, and Korolev. According to Yulia Verbitskaya, director of the mortgage department at MIEL-Real Estate, in the Moscow region the average cost of apartments purchased under a mortgage lending scheme is $45-60 thousand.

Secondary market

According to the website arn.ru, the average price per square meter on the secondary market in the region in October compared to September increased by 0.4% and amounted to $931, which is 34% higher than in the same month last year ($694). The pause in price growth in October (in September they rose by 0.8%) was also facilitated by an increase in supply, which increased by 13.4% in mid-autumn.

At the same time, there are very few cheap options left, and prices range from $300 to $400 per 1 sq. m. m accounts for only about 1% of all market offers. In October, the maximum number of options (38.4%) was in the price range from $1 thousand to $1.3 thousand per 1 sq. m. m. There is especially a lot of expensive housing in Khimki, Krasnogorsk, Odintsovo, Mytishchi, Vidnoye. At the same time, proposals where the cost per square meter exceeds $1.5 thousand still account for only 0.3% of the total market volume. For example, in the city of Vidnoye in October they offered a one-room apartment in a 16-story panel building for $54 thousand ($1.565 thousand per 1 sq. m), in Mytishchi - a three-room apartment in a panel building for $110 thousand ($1.618 thousand per 1 sq. m), a very small three-room apartment (60 sq. m.) in a two-story mansion in Odintsovo was valued at $150 thousand ($2.5 thousand per 1 sq. m.). The highest demand remains for cheap housing, which pushes prices up here. Thus, according to the results of October sales, the highest rate of price growth (+1.4%) was noted in apartments located in five-story block buildings ($872 per 1 sq. m), and a drop of 1.6% affected living space in monolithic brick new buildings , where the price in mid-autumn was $866 per 1 sq. m. m.

LYUDMILA CHICHEROVA

Mortgage came to the Moscow region