Why do developer companies bring new residential complexes to the market, but slow down the construction of queues in already under construction projects
Last year of the FSK Group of Companies brought eight new projects to the market of residential new buildings: four-in Moscow and the same-in regions. In the current, 2025, according to Dmitry Trubnikov, general director of FSK Development, the company again plans to withdraw four new LCDs in the capital and four in the regions. It would seem that nothing has changed, and the developer looks quite optimistic into the future, but no. “The construction of about 40 buildings in existing projects was transferred to 2026,” Dmitry Trubnikov shares. “The housing market is sharpened, and it will logically postpone the withdrawal of new lines for the future.”
The plans for the near future at the development group is quite modest. “Today, the share of the FSK company in the primary housing market is 7%,” says Dmitry Trubnikov, “and we plan to maintain this share.” If we consider the phrase of the developer in the context of the situation in the housing market, then it can be understood as follows: the company is ready to fall, but not much, with the average speed of the entire new building market.
In the wake of success of recent years, developers did not stock up “fat for the winter”, but actively invested in the purchase of land plots and the development of new projects
in July last year, two important and extremely unpleasant events in the housing market occurred. Firstly, they turned a lot of preferential mortgage programs. Secondly, the Central Bank began to raise the key rate: first up to 18%, after a month (in August) another 1%, and at the end of October to a peak value of 21%. The mortgage became very expensive, which brought down the demand for apartments.
As a result, already in November, according to Dataflat.ru analysts, the number of transactions in the capital decreased by 27%. And in a number of regions, for example, St. Petersburg and Krasnodar, the fall exceeded 50%. The developers were in a difficult situation. Housing construction – A complex technological process, and directly construction is only the peak of the iceberg. Before entering the site, work on the project in the bowels of development companies has been held at least a couple of years. This includes the purchase of a land plot, and the development of the concept of the complex, and coordination with the city authorities, and much more. It is almost impossible to quickly stop such a conveyor. The situation is complicated by the fact that in the wake of the success of recent years, developers did not stock up “fat for the winter”, but actively invested in the purchase of land and the development of new projects.
In this section, the strategy voiced by Dmitry Trubnikov seems to be a good survival plan. Firstly, FSK offers customers a wider palette of different projects. Secondly, in new complexes, prices can be made below and more affordable, which is difficult to crank up with lots in the construction of the next building in the already under construction LCD. Such a discount will greatly outrage buyers who have already purchased apartments at higher prices. It is difficult to compare prices in different projects located in different locations and at different stages of construction. Well, thirdly, this strategy allows the developer, maintaining resources for the entire technological cycle of construction, cut the bones: for example, reduce advertising costs or leave three designers instead of five.
in the market of expensive housing, decrease in developmental activity It will be even more noticeable
And, apparently, many developers adhere to the same strategy, but unlike the FSK group, which openly declared their plans, they freeze construction without unnecessary noise. So, this year, according to the analysts of the Metrium company, developers within the boundaries of the “old” Moscow plan to put into operation 131 corps in 38 business class projects, which is 28% less than in 2024. Last year, 182 buildings were built in this class.
in the market of expensive housing, a decrease in developmental activity will be even more noticeable. This year, the metropolitan developers promise to commission 27 premium and elite projects, which, according to Metrium, is 40% less than in 2024 (45 residential and apartments).
Analysts record a decrease in construction activity not only in Moscow. So, according to the NF Group consulting agency, the volume of business class housing in St. Petersburg can reach a historical minimum. According to permits, in 2025 it is planned to commission only three residential projects, the total housing area in which is 22 thousand square meters. m. For comparison: in 2024, 319 thousand square meters were built in the northern capital. m of business class housing, in 2023-about 150 thousand square meters. m.
So far, a strategy for reducing the speed of construction justifies itself. After all, demand continues to fall much: according to the monitoring system and analysts of new buildings BNMAP.PRO, in January 2025 9416 lots were sold in Moscow and the region, which is 27.3% less than in December 2024. But the prices for sq. m remain in place.
So far, developers manage to maintain control over the fall: housing prices practically do not change
In recent months, experts voiced two scenarios of prices in 2025. First: Prices for sq. m stagnit or slightly grow, but imperceptibly, less inflation (within 5-7% per year). The second option is even worse: the apartments will fall in price by 20-30%. For example, such a scenario is predicted by analysts of the consulting company Jacob and Partners.
However, apparently, while developers manage to maintain control over the fall: housing prices are practically not changing. According to the portal “Indicators of the Real Estate Market”, the price of sq. m within the borders of the “old” Moscow in January of the current year increased by 0.3%, in New Moscow – decreased by 0.1%. And if you focus on the volume of new construction, then the case does not reach the option “even worse”.
There is a type of parachute, called “Group Acrobatics”, and in English-Relative Work. If you translate literally, then the phrase “relative work” is obtained. This is when several athletes during a free fall, while lying down, perform acrobatic elements, building various figures during the fall. Beloers are also trying to perform something similar today in the market of residential new buildings: they build in a position, trying to maintain the speed of falling relative to other players.
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