The growth of housing prices in megacities slowed down. Perm, Yekaterinburg and Moscow turned out to be the leaders in price reduction among cities with millions in May
The growth in prices for secondary housing in cities with millions of residents began to slow down: in May, the “square” added 0.2% in price against 0.7% in April, as a result, the price amounted to 131 thousand rubles. Such data was provided to RBC-Real Estate by Yandex Real Estate analysts, whose analysis is based on ads for the sale of apartments through the service.
Analysts observe a similar picture in the horizon of the year. In May 2024, by May 2023, the price increase for ready-made housing in megacities averaged 13.8%. While in April, by April 2023, the figure exceeded 14%.
According to Yandex Real Estate estimates, in three million-plus cities, prices for secondary housing decreased in May. The “square” fell the most in Perm — by 0.7%, to 98 thousand rubles. Also, the cost of 1 sq. m decreased in Yekaterinburg (by 0.2%, to 115 thousand rubles) and Moscow (by 0.1%, to 332 thousand rubles). In three more megacities, the price dynamics turned out to be zero. These cities are Samara (113 thousand rubles per 1 sq. m.), Chelyabinsk (95 thousand rubles per 1 sq. m.) and Novosibirsk (112 thousand rubles per 1 sq. m.).
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According to Yandex Real Estate, Rostov-on-Don became the leader in the growth rate of prices for secondary housing in May. Secondary housing in this city rose in price by an average of 1.2%, to 112 thousand rubles per 1 sq. m. Kazan is in second place (+0.8%, to 163 thousand rubles). Three cities at once shared the third place with dynamics of half a percent — Nizhny Novgorod, Omsk and Volgograd. On average, 1 sq. m. The cost of housing from the owner in these millionaires by the end of May was 128 thousand, 103 thousand and 95 thousand rubles, respectively. In St. Petersburg, an increase of 0.3% was recorded in May, to 202 thousand rubles per 1 sq. m.
As for the supply of apartments in the secondary housing market of cities with millions, in May, according to experts, it decreased by 0.2%. “We expect a further accumulation of offers in the secondary market, which will be fueled by the continued commissioning and transition to the category of secondary real estate of objects under construction today, as well as an extension of the transaction cycle in the secondary market: now a secondary apartment is sold on average three months longer than a year ago,” commented the commercial director of Yandex Real Estate Evgeny Belokurov.
According to calculations by the SRG consulting company, made at the request of RBC-Real Estate, in May Moscow became the first in Russia in terms of the rate of decline in housing prices among 50 large cities. On average, secondary housing in the capital in the last month of spring fell in price by 0.51%, to 323.4 thousand rubles per square meter. In April, Moscow ranked 11th in terms of the rate of decline in housing prices. Then the average price of the “square” decreased by 0.23%.
The decline in prices in the secondary housing market of Old Moscow for the second month in a row is also recorded by analysts of the Real Estate Market Indicators center IRN.RU “. According to their calculations, the average cost of 1 sq. m. m in the capital decreased by 0.1% in May, to 271.3 thousand rubles.
See also:
- What will happen to the demand for new buildings after the completion of the preferential mortgage
- In Russia, the decline in prices for secondary housing has accelerated
- In Moscow, apartments have become more often sold at significant discounts
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