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Cheap apartments run out in Moscow

+ A – Too affordable mortgages overheated the new housing market In early December, another record was set in the capital’s primary housing market: for the first time in history, the average cost of 1 “square” of economy-class housing exceeded 203 thousand rubles. In early December, another record was set on the capital’s primary housing market: for the first time in history, the average cost of 1 “square” of economy-class housing exceeded 203 thousand rubles According to the managing partner of the company “Metrium” Maria Litinetskaya, at the end of November the average cost per square meter in the projects of new buildings in the mass segment in Moscow reached 203 thousand rubles. for the “square”. Over the past 12 months, the average cost per square meter in residential complexes of the mass segment has increased by 17%! This is the fastest rise in prices in the history of the capital’s market for new buildings. The previous jump was recorded in May 2015, when the average “square” rose in price relative to May 2014 by 16% (to 159.9 thousand rubles). In 4 out of 8 administrative districts of Moscow, where you can buy an apartment in a massive new building, the average price also exceeded 200 thousand rubles. Moreover, in the Western Administrative District, the indicator for the year increased by 37% (to 233 thousand rubles per sq. M), in the Eastern Administrative District – by 21% (to 227 thousand rubles), in the Northern Administrative District – by 12% (up to 218 thousand rubles), and in the North-Western Administrative District – by 32% (up to 215 thousand rubles). Cheaper than 200 thousand on average, mass new buildings can be purchased so far in the South-West Administrative District (180 thousand rubles per sq. M.), South-Eastern Administrative District (188 thousand rubles), North-Eastern Administrative District (191 thousand rubles), Southern Administrative District (199 thousand rubles .). The average cost of an apartment has also increased. In November, it reached 11.4 million rubles. (with an average area of ​​56 sq. m.), which is 11% more than in November 2019. Two-room apartments have risen in price most of all over the past year. Their cost increased by an average of 20% – up to 12.7 million rubles. (63 sq. M). Three-room apartments have grown in price by 18% (up to 16.7 million rubles; 84.5 sq. M.). One-room apartments have become more expensive by 14% to 8.5 million rubles. (41 sq. M). The cost of studios increased by 9% (to 5.9 million rubles for 27 sq. M). “There are several reasons for such a sharp rise in prices,” Litinetskaya said. – The main role in this process was played by the high demand for new buildings, caused by the decrease in mortgage rates. The supply has noticeably decreased. Due to the washing out of the most affordable apartments on the market, more expensive objects remained. The transition to a new financing model, also more costly, continues. All this together led to an unprecedented increase in prices for massive new buildings. ” “If in the“ old ”Moscow prices not only grew but also fell since 2015, then in New Moscow the price dynamics was different,” added Vladimir Shchekin, co-owner of the Rodina Group. – From 2015 to 2018, the average cost per square meter in local new buildings remained practically unchanged and amounted to 100-105 thousand rubles per square meter. m. With the beginning of the decline in mortgage rates in 2018, prices went up. And the lower the rates, the more intensively the prices for new buildings went up. Now we see the peak of this trend – affordable mortgage has stimulated the market for new buildings in New Moscow, where prices are lower than in the old borders. ” In 2021, we can hardly expect a decrease in prices for new buildings in the capital. According to the forecast of IRN analysts, mortgage rates will remain close to historical lows, and the supply of inexpensive housing – at minimum levels. At the same time, low rates on deposits will fuel the real estate market with investment buyers for another year or two. We add that the transition of the construction industry to project financing has reduced its dependence on sales rates. Therefore, in projects that are being implemented according to the new scheme (in October 2020, already half of the preschool institutions in Moscow were registered with escrow), developers will not dump. All these factors will impede the downward movement of prices for new buildings even amid falling demand, experts concluded. Published in the newspaper “Moskovsky Komsomolets” No. 28441 of December 15, 2020 Headline in the newspaper: There are no cheap apartments left in Moscow

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