The main trends in the market of new buildings in Moscow in 2023

0
231

Price stagnation is expected, fewer apartments, increased state support for demand and the construction of more skyscrapers

The first month of 2023 met the market for new buildings in the Moscow region with a decrease in sales. According to Cyan.Analitiki, 8.3 thousand apartments and apartments were bought through DDU. Relative to the previous month – December 2022 – demand decreased as expected (by 36%), it fell by almost the same percentage compared to last year's January (by 32.8%). In general, this was the minimum January figure for six years. 82% of transactions went into mortgages against 84% a month earlier and 65% a year ago. At the same time, the increase in the volume of supply, which had been observed in the previous eight months, stopped (including due to a larger number of “new products”). The selection increased by only 0.2% to 113.3 thousand lots.

Against the backdrop of the uncertainty of the situation, it is difficult to predict further trends, but some of them are already visible, especially since these trends have basically continued from last year. Due to the large volume of supply, the balance between the interests of buyers and developers will be restored, which will help curb prices. The apartments themselves will become smaller. State support for demand for housing will increase, providing a certain level of sales, which will not allow a crisis. They will also build more high-rise complexes that are more profitable for developers. The Elite.ru portal, based on Metrium data, talks about five main trends.

Price stagnation and more discounts

In 2023, the period of rapid price growth that has lasted since 2018 will end. In the first month of this year, the average price per sq. meters in the Moscow region remained almost unchanged: it decreased by 0.6%, to 258.7 thousand rubles (information from Cyan.Analytics). Further stagnation is also expected. On the one hand, in the current situation, the competition between developers for a buyer is very intense. After the “zero mortgage” ban, they switched to long-term installments, cashback and direct discounts. The latter returned to mass practice in the second half of 2022, and this year new records for the size of discounts are possible. On the other hand, the costs of builders are still high, and prices should not be expected to fall. However, developers will be extremely careful to increase them, and an aggressive policy is not possible here. ” />

READ:  How to choose an apartment in Moscow, taking into account the development of the area

Apartments smaller than

Another way to make apartments more affordable is to reduce the area. In January-November 2022, the average footage of housing offered for sale in new buildings in the capital decreased by 4 square meters. meters, up to 54.3 sq. meters. In 2023, developers will continue to optimize the offer for the ever more modest possibilities of buyers. After all, “squares” in previous years have greatly increased in price, household incomes are declining, and mortgage rates are rising: both within the preferential program up to 8%, and on market mortgages up to 11%.

Developers both reduce the footage of apartments of all types, and replace part of the one-room apartments in the studio, two-room apartments with one-room apartments, and so on. For example, last year the share of studios increased from 17% to 20%. That is, every fifth apartment in the exposition is a studio. Of course, the trend is more likely to concern the mass segment and partly “business”, where the share of such housing has reached 27% and 17%. In the “premium” it does not exceed 4.5%, in the elite and deluxe class – 1.4%.

Mortgages with state support are more

Expansion of demand support from the state is expected. At the end of 2022, the preferential mortgage program was extended, although the rate was increased from 7% to 8% per annum. Significantly expanded the family mortgage. Loans with rates up to 6% can now be obtained by families with two children, not only younger, but also older – up to 18 years old. At the beginning of this year, the conditions for preferential mortgages at 5% for IT specialists were softened. We expanded the list of companies whose employees can borrow it, and also increased the age range of borrowers: from 18 to 50 years old. The requirements for wages were relaxed, in addition to which they began to take into account income not from the main place of work. The military mortgage could also be reformatted.

READ:  "We should avoid direct instruction on luxury"

New measures will also be taken, this time targeted. By July 1, the Cabinet of Ministers must develop a preferential mortgage for young people. Mortgages for state employees and scientists are being discussed. Residents of new regions received special support. The government launched a preferential mortgage program for such people at 2% per annum. In addition, various options for co-financing the acquisition of real estate are being considered, including compensation for half of the down payment.

New buildings are higher

The next trend concerns the increase in the height of construction. At the end of 2022, developers implemented 15 projects with skyscrapers in the mass segment, 27 in the business class, and 12 in the premium and elite class. Five years ago, in 2017, a total of 41 such projects were built. In 2023, the trend will intensify. By increasing the number of storeys, developers increase the commercial efficiency of the project, and in large residential complexes (which usually include skyscrapers), more payable commercial infrastructure can be allocated on the lower floors. In addition, apartments with views are in high demand.

In general, the prerequisites for the development of the capital's primary market in 2023 are rather positive. However, there is still a high probability of the emergence of factors that are not directly related to the industry. It is they who create the greatest risks this year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here