Demand for secondary real estate increased in 24 major Russian cities

On the secondary housing market of Russia in November in annual terms, demand increased in 24 of 44 major cities, most noticeably in Moscow (+26%), Novosibirsk (+21%) and Yekaterinburg (+20%). This is stated in the results of the study "Avito Real Estate", which were reviewed by "Izvestia" on December 13.

At the same time, for six months, in relation to June 2024, in Russia as a whole, the activity of buyers of secondary housing increased by 12%.

According to experts, the average cost of an apartment in the secondary market in November amounted to 7.5 million rubles, a year earlier it was at the same level. In terms of 1 square meter, the average price amounted to Br132.5 thousand. The leaders in terms of prices were Moscow (Br31.2 million), Sochi (Br14.4 million) and St. Petersburg (Br11.5 million). The most affordable ready housing was presented in Smolensk (Br3.9 million), Bryansk (Br4.1 million) and Ulyanovsk (Br4 million).

"We note that activity in the secondary real estate market remains, with the majority of transactions now alternative - when the purchase of a new apartment is financed by the sale of the previous one. Some buyers cover the difference in price at their own expense, which supports the demand for secondary real estate in the conditions of changes in the cost of mortgage loans", - said the managing director of the direction of secondary and countryside real estate "Avito Nedvizhimosti" Sergei Eremkin.

Speaking about the analysis of demand dynamics in annual terms, he noted that it is important to take into account that in November 2023, the secondary market experienced a downturn due to the increase in the key rate of the Central Bank of the Russian Federation in July - October last year.

"In many major Russian cities, interest in ready-made housing this November has been higher. Demand is also formed by buyers who moved from the primary to the secondary market after the abolition of mass preferential mortgages for new buildings, and those Russians who plan to enter the transaction later, but look out for objects on the platform now," - added Yeremkin.

Earlier, November 2, it became known that every third surveyed Russian most comfortable considers "young" secondary housing - real estate, which is 3-10 years old. Another 30% of respondents called comfortable country house. At the same time, the comfort of new buildings - up to three years from the date of delivery of the house - noted 23%, according to the results of the survey VTB.