The price difference between new buildings and secondary buildings is decreasing

In the first three weeks of May, new buildings in St. Petersburg lost 0.9% of the price, while apartments on the secondary market, on the contrary, rose in price by 0.3%, according to Yandex. Realty.

The difference in cost between primary and secondary housing in May was 17%, writes DP.

“Due to the very imminent cancellation of preferential mortgages for all categories of citizens, we are observing a Brownian movement in the market,” said Yevgeny Belokurov, commercial director of the service.

So, in the first three weeks of May, in half of the million-plus cities, analysts record an increase in prices for new buildings, which is explained by the “washing out of more affordable offers.” In the secondary market of almost all megacities, prices have gone up, which is due to “the reorientation of part of the demand for the ready-made housing segment.”

“Until July 1, we expect to see a further increase in prices for new buildings, and after that we predict a gradual decrease in prices over the course of a year and a half,” Yevgeny Belokurov believes.

In all million-plus cities, except Samara, the median price of a “square” in a new building is higher than in the secondary market. For comparison, in Moscow, the difference between real estate in the primary and secondary markets is minimal and amounts to only 2% in favor of new buildings.

In all other megacities, the difference in the cost of m2 in the primary and secondary markets ranges from 17 to 48%.

Demand is influenced by the availability of mortgage programs. In July, the situation with preferential mortgages will become clearer, and it will become clear how it will affect demand. But it can already be argued that even in the event of the cancellation of preferential mortgages, developers will continue to develop joint programs with banks and subsidize mortgage rates. Thus, mortgage rates for primary and secondary real estate will not be equal anyway.

In the spring of 2024, prices for secondary housing in St. Petersburg showed the lowest growth rates in the country. Over the year, the cost of a meter of secondary housing in the city increased by only 4.4%, and from February to March — by 0.2%. Nevertheless, St. Petersburg ranks third in the country in terms of the price of secondary housing. It is second only to Moscow (331 thousand rubles per 1 m2) and Sochi (280 thousand rubles).

Источник: www.bsn.ru