The national average for primary housing prices has increased slightly in the current quarter. The dynamics in the largest regions is multidirectional, analysts say
According to the preliminary results of September 2024, the median cost of 1 sq. m. The share in the market of new buildings in Russia amounted to 186 thousand rubles, follows from the research of Domklik analysts provided to the editorial office by the press service of Sberbank.
Since July 1, the date of completion of the broad program of preferential mortgages for new buildings at 8%, this figure has increased by 1.8%, according to the materials (data include the prices of the offer on the showcase). The volume of supply of new buildings decreased by 2.3%.
“The absence of a visible decline in the price level is largely due to uncertainty about the financing of family mortgages: a lot of statements that the limits will soon be exhausted and that the issuance of the program will be stopped, led to another wave of demand. So, in September, the average number of disbursements per week under state programs was about 6.6 thousand, while in August the figure was at the level of 5.5 thousand,” comments Alexey Leipi, director of the Domklik division of Sberbank.
Despite the increased targeting of mortgage programs, they continue to support the market of new buildings, analysts say. So, in August, the percentage of loans on preferential terms in the primary market was 95% (in July — 93%).
Prices for new buildings varied depending on the type of room
Domclick draws attention to the fact that prices for different types of apartments in new buildings changed in different ways. Studios decreased slightly in price — by 0.3%, to a median of 226 thousand rubles per 1 sq. m. A decrease was also noted in the segment of multi—room (four or more rooms) apartments – by 0.7%, to 255.5 thousand rubles per “square”. One-, two- and three-bedroom apartments in Russian new buildings, on the contrary, increased in price — by 1.2% (to 182.6 thousand rubles), by 2.8% (to 175.5 thousand) and by 2.5% (to 174.7 thousand) accordingly.
In the supply market in new buildings in Russia, “one—room and two-room apartments are most common – 38.5 and 33.2%, respectively. The share of three—room housing is 14%, studios — 13%, apartments with four or more rooms – 2%,” the report says.
The cost of new buildings in large regions
Separately, Domclick reviewed the price dynamics in the largest regions of Russia. In about half of the megacities, the average cost per square meter decreased in the third quarter, the strongest in the Krasnoyarsk Territory (by 6.6%), Omsk (by 4.1%) and Nizhny Novgorod (by 4%) regions.
Prices in the metropolitan regions also decreased from July to September, but more smoothly, analysts say: in new buildings in Moscow, the median “square” fell by 0.5%, in the Moscow region — by 2.3%, in St. Petersburg — by 2.6%. Domclick associates the price adjustment with significant restrictions in the updated conditions for family mortgages and IT mortgages, which have not been valid in Moscow and St. Petersburg since July.
The leaders in cost growth are the Republic of Bashkortostan (+10.4%), Chelyabinsk (+8.6%) and Samara (+8.4%) regions.
“It can be assumed that the growth in the Republic of Bashkortostan and the Chelyabinsk region is due to the effect of washing out inexpensive offers: the supply in the primary market here decreased the most — by 15% and 26%, respectively (in most of the largest regions — up to 10%),” the materials explain.
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