In St. Petersburg and the Moscow region, the share of apartments with finishes in new buildings is growing, while in Moscow and the Leningrad region it is decreasing

In Moscow and the Leningrad Region, the share of apartments in new buildings that are sold with finished finishes has decreased over the past year. In the opposite trend, St. Petersburg and the Moscow region – here, on the contrary, the share of apartments with finishing continues to grow. Such conclusions were made by experts of the A101 Group of Companies, comparing the data for May 2023 with May 2024.

In the capital region, the supply of apartments with finishes in new areas decreased the most — for example, in TiNAO it fell by 9 percentage points at once — from 64 to 55%. In the old districts of Moscow, 48% with finishing and pre-finishing were sold last year, this year there are already 45% of them left. According to experts, the main reason for this was the rapid growth of already high prices, so developers are trying to offer buyers savings options at least on finishing. According to Pavel Bryzgalov, head of product development at A101 Group, finishing can be up to 20% of the cost of an apartment at a weighted average price per square meter in New Moscow in the first quarter of 2024, 245 thousand rubles. At the same time, the growth over the past year was 12%. “Given that preferential mortgage programs are being curtailed, and banks are already raising rates, developers are doing everything to ensure that real estate remains affordable, including bringing more objects to the market without finishing,” the expert explained. However, the savings may not be significant, since the finishing can be included in a mortgage loan, and repairs will have to be done with your own money after the house is rented. According to Bryzgalov, in this case, its cost may exceed 30% of the apartment price.

In the Leningrad region, the situation is similar to New Moscow, although the share of new buildings with finishes is still high — 58%, but last year it generally reached 69%. But in St. Petersburg, developers continue to bring apartments with ready—made repairs to the market, and their share is growing – from 58% in May 2023 to 60% a year later. In the Moscow region, too, a small increase is visible, but from 50 to 53%.

As for demand, it follows supply. In the capital at the end of 2023, for the first time in the old districts, interest was higher in apartments without finishing, and in the Moscow region it remains at the level of 67-69%. In St. Petersburg, demand, as well as supply, increased by 2 percentage points — from 76 to 78%, with 5% coming from apartments with furniture from the developer. In the Leningrad region, the demand for finishing decreased from 85 to 74% in early 2024, although it exceeded St. Petersburg figures in mid-2023.

Источник: www.fontanka.ru