The number of share construction contracts in Moscow increased by 15% over the month

In November in the capital the number of share construction agreements (CDA) increased for a month by 15%, and on the secondary housing market the demand remained at a relatively high level of October, follows from the data of analysts of the company "Metrium", based on the latest information of the Moscow Rosreestr. "Izvestia" got acquainted with the data of experts on December 13.

In November 2024, the Moscow Rosreestr registered 7.2 thousand contracts of participation in shared housing construction, which is 15% more than in the previous month, but 34% less than in November 2023, when the market was recorded 10.9 thousand CDA. In general, from January to November 2024 in Moscow concluded 77.2 thousand CDA against 102.5 thousand CDA in the same period of 2023. Thus, according to preliminary results of 2024, the activity of shareholders in Moscow decreased by 25%, experts emphasized.

"Stabilization of demand in the market of housing under construction occurred due to the expansion of sales through installments. This tool has gained popularity among buyers of new buildings of business and premium class, who previously used mortgages, while the rates were relatively low. Now installment is a way to avoid overpayment of interest, because the average market mortgage rate for the year has increased from 16.1 to 27.3%", - said the general director of the company LLC "River Park" Larisa Shvetsova.

As specified by analysts, the number of mortgage transactions in November in Moscow decreased by 26% compared to the previous month. Banks issued to home buyers - both primary and secondary - 8.9 thousand loans, while in October 2024 registered 11.9 thousand mortgage transactions. Compared to November 2024, when 10.1 thousand agreements were concluded, the demand decreased by 13%. In total, 109.6 thousand mortgage transactions have been recorded in Moscow since the beginning of the year, which is 13% less than in the same period of 2023 (126.5 thousand).

In the market of ready housing in November, the number of transactions remained almost unchanged - 13.6 thousand. Nevertheless, compared to November 2023 (15.4 thousand purchase and sale agreements), the indicator decreased by 12%. From January to November 2024 in Moscow Rosreestr registered 128.9 thousand contracts for the purchase of ready housing, which is 20% less than in the same period of 2023 (160.1 thousand).

"Installment payment, which partly replaced the mortgage, stimulates purchases primarily in ready-made new buildings. For the client it is an absolutely risk-free deal, which allows you to get the keys to the apartment with partial payment already now. It is important to emphasize that there was no general reduction in the activity of buyers: customers switched from one instrument - mortgage - to another - installments. Meanwhile, the share of mortgages in the primary market of Moscow as compared to June, when the preferential and IT-credits were in effect, has decreased from 69 to 50%", - said Dmitry Golev, Commercial Director of Optima Development.

Managing Director of the company "Metrium" Ruslan Syrtsov stressed that, despite the continuing difficult situation with mortgages, the Moscow housing market demand has stabilized.

"Among buyers of new buildings is actively spreading installments, which allows to partially replace the mortgage loan. In the secondary segment, clients are organizing alternative, exchange transactions with limited attraction of borrowed funds. Of course, the volume is not as high as in the best years, but we can not say that there has been a catastrophic drop in demand and life in the market has stopped", - he concluded.

Earlier, December 4, it was reported that more than half of the surveyed (79%) of Russians save on deposits to buy real estate. This is stated in the results of the study of the company Regions Development. The purchase of cars interested 38% of respondents. 29% of survey participants plan to allocate funds for housing repair.