In St. Petersburg, discounts and promotions are more often offered in new buildings of a low price category, and in Moscow — in objects with prices above the market average
Moscow and St. Petersburg developers choose different strategies to stimulate the activity of buyers of new buildings. In St. Petersburg, discounts and promotions are more common in more budget-friendly new buildings, and in Moscow — in facilities with prices above the market average. This conclusion follows from the analytical study of the CIAN company, which was reviewed by the editorial board.
In the 74 new buildings of St. Petersburg analyzed by analysts, 130 different promotional offers are offered. Their main share (54%) falls on objects with prices up to 250 thousand rubles per 1 sq. m.
The structure of promotional offers in new buildings in St. Petersburg
Source: CYANOGEN
In Moscow, out of 73 discount and promotional programs analyzed by analysts, the maximum falls on new buildings with prices in the range of 500-550 thousand rubles. This is above the average market prices. One of the reasons is that, unlike in St. Petersburg, business—class facilities in Moscow are much more widely represented in the new building market than other segments. According to Est-a-Tet analysts, business class in Moscow accounts for 47% of the offer, while the lower price segment accounts for only 38%.
The structure of promotional offers in new buildings in Moscow
Source: CYANOGEN
There are other features of special offers in new buildings in the two capitals, as well as in other regions of Russia. The CIAN identified them based on an analysis of data on 441 residential complexes under construction from 35 regions of Russia, which offer about 900 different promotions for buyers (more than a third of residential complexes under construction in the country).
Where and what promotions are offered
Source: CYANOGEN
The CIAN separately assessed the targeting of the proposed special offers. About 74% of the shares from the developers are offered to all buyers. In five regions (Ryazan, Tula, Oryol, Kaluga and Sakhalin), such discounts remain the only way to maintain demand, the study notes.
Clarifying conditions apply in another 26% of the shares: only for IT specialists, only for families with children, only for participants of their own, only for buyers from a certain region, only for those who have previously purchased an apartment from this developer, etc. The leaders in the prevalence of such shares are Tatarstan, Leningrad, Novosibirsk, Tyumen, Chelyabinsk and Vologda regions, as well as the Krasnoyarsk Territory.
Elena Lapshina, expert of “CYANOGEN.Analysts”:
— In conditions of decreasing mortgage availability, developers use various mechanisms to maintain demand: installments, discounts on individual lots, their own rate subsidy programs, etc. Most of these promotions are designed for all buyers, regardless of family composition or profession, which is designed to support those who do not fit into any of the remaining preferential programs.
The players of the capital’s real estate market confirm the prevalence of special purchase conditions. “The total share of developers who provide certain promotions, discounts, mortgage opportunities to attract buyers now stands at 85-87%,” says the founder of Best-Novostroy and the platform bnMAP.pro Irina Dobrokhotova. — Yes, this share is increasing, because now developers are deprived of the main tool for maintaining demand — preferential mortgages. Therefore, they are looking for those marketing tools on their own that will attract and retain a buyer.” According to the expert, up to 60% of developers now offer installments, and there is also a certain increase in schemes with a letter of credit.
“Almost all developers offer their customers a trade-in, despite the fact that the terms and conditions of booking may vary,” adds Dmitry Efimov, Deputy Commercial Director of PIONEER. According to the expert, most of the special conditions of sale presented on the market were relevant before, but in the second half of the year they became more common.
At the beginning of the summer, almost 30% of apartments in new buildings in Moscow were sold at discounts. There have been fewer of them over the year, but the approach to providing discounts has changed dramatically. The previously widespread fake discounts have practically disappeared (when at first they indicated a price that never existed, then they crossed it out and marked an allegedly new one). Now almost all discounts have become real.
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