The publication refers to the data of the SRG consulting company that secondary real estate has fallen in price in 14 of the 50 major cities of Russia. Experts consider this to be just a loud headline and talk about the current balance of the real estate market
In Russia, the fall in secondary prices has accelerated. By the end of April, it fell in price in a third of the studied major cities of Russia, or in 14 out of 50. At the same time, in March, a decrease in the cost of secondary goods was recorded only in five cities, according to RBC.
According to the SRG consulting company, apartments in Ryazan showed the largest drop in value — by 1.5% — and the price per square meter was about 93 thousand rubles. Vladivostok is on the second line, where the secondary market has fallen in price by a little more than 1%, to 171.5 thousand rubles per “square”. Balashikha closed the top three, where prices fell by less than 1%, to 167 thousand rubles per square meter.
In Moscow in April, the cost of secondary housing decreased by 0.23% and amounted to 325 thousand rubles per square meter. The main thing is to write a catchy headline, because, in fact, the secondary in 36 of the 50 cities studied is becoming more expensive, says Alexey Popov, head of the CIAN analytical center:
Alexey Popov, head of the CIAN analytical center, “In this article it is written that prices have decreased in 14 out of 50 cities, thus, the trend towards lower prices has increased, but exactly the same means that prices have continued to rise in 36 out of 50 cities, this coincides with our calculations. In the last four to five months, nominal supply prices have been increasing very slowly, that is, in total, there is a slight price increase of the first tenths of a percent in all major cities. This corresponds to the data provided in the study, it’s just that the title is made so that they pay a little more attention to it. The real transaction prices are indeed decreasing slightly, this is due to mortgage rates and general uncertainty about the extension of preferential programs. This situation exists, but it does not lead to a sharp decrease in demand, the number of transactions in the first quarter was at the level of the same months last year. That is, these movements of growth and decrease by 1% back and forth are interesting to analysts, but this information is completely useless to ordinary potential sellers and buyers. This indicates that the market situation is stable, sellers are not ready to decline much, buyers are ready to wait further, look for a lot that will satisfy their needs. If there are any emissions of more than 2 percentage points, it may indicate that something is starting to happen in the market.”
Now the owners are reluctant to part with their apartments and only very illiquid housing is getting cheaper, says realtor Alexander Kharybin:
Alexander Kharybin realtor “Cheap apartment is sold only in special cases. There is a situation when the mortgage is very expensive — 17-18.5% — and it is extremely problematic to buy something. But mostly people sell apartments only when they buy something in return. For example, they have a one-bedroom apartment, they want to expand, buy a two-bedroom or sell an old three-bedroom apartment, buy a good one-bedroom in business class for rent, reinvestment. What we sometimes do is sell two—bedroom apartments and one-bedroom apartments in old houses, because prices are not rising there, there has been a 30% increase over the past five years, and new buildings have more than doubled. For some reason, everyone wants new things, we also love new cars, clothes, and the same with houses. There is less growth of the old, more growth of the new, the same with the fall. Prices, as a rule, when they decrease, first of all they decrease for old housing in bad areas, illiquid, and there are quite a lot of such housing everywhere, housing is really good 5-15%. It turns out that prices for good things have not only not fallen, but even slightly increased, but they are holding right now, because there is very little of it on the market now, they practically do not sell it, so prices do not fall there. There is a drawdown for all sorts of nonsense, but it is so insignificant, it is not a drawdown, it is just an acceptable market fluctuation, that is, there is a certain shortage of normal housing on the market now: there is nothing to buy and there is not much to sell.”
According to analysts, the most expensive secondary in April rose in Ulan-Ude — by 2.5%, to 124.5 thousand rubles. The cost of housing in this city has been rising since June 2023.
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Sochi is in second place — plus 2% and the price is almost 260.5 thousand rubles per square meter. Kirov took the third place, an increase of 1.7%, and the cost per square meter of secondary housing increased to almost 97.5 thousand rubles.
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