Analysts assessed the affordability of new housing in Russian regions

The average Russian can buy about 4 sq. m. on the primary real estate market on his annual salary. New buildings were most affordable for residents of Chechnya, the Yamalo-Nenets Autonomous District and the Vologda Region. This is stated in the research results of KEY CAPITAL company, which were presented to "Izvestia" on December 26. Analysts assessed the availability of new housing in Russian regions in 2024.

Experts compared the average cost of 1 sq. m. in new buildings in different regions in November with the average annual income of residents, calculated on the basis of Rosstat data for the third quarter of this year. They found that the average Russian in November could buy about 4 square meters on his annual income. The average per capita income in this period exceeded Br60 thousand per month, and the average cost of 1 square meter in new buildings in the country reached Br180 thousand.

The leaders in terms of the number of square meters available for purchase on an annual income were the residents of the Chechen Republic. With an average cost of 1 square meter of about Br40 thousand and an average monthly income of almost Br43 thousand, they could buy about 13 square meters of housing.

The second place is occupied by the Yamalo-Nenets Autonomous District. Given the cost of 1 square meter of about Br160 thousand and a significant average monthly income of almost Br140 thousand, residents of the region could afford to buy about 10 square meters. m.

The Vologda Oblast took the third place. The average monthly income of about Br47 thousand and the average cost of 1 square meter of about Br70 thousand allowed the residents of the region to buy about 8 square meters of housing in a new building.

Experts noted that high availability of new buildings was also demonstrated by the Orel region and Kabardino-Balkaria, where residents could buy 8.1 square meters. m. Close values of the indicator were noted in the Pskov region (7.9 sq. m.), in the Smolensk region and the Republic of Dagestan (7.8 sq. m.), Ivanovo region (7.7 sq. m.), as well as in the Lipetsk region (7.6 sq. m.).

In Moscow and St. Petersburg, buyers can buy 4.7 and 4.1 square meters respectively on an annual income. The least affordable housing was in the Republic of Tyva (2.9 sq. m.), Karachay-Cherkessia (3.0 sq. m.), the Republic of Crimea (3.6 sq. m.), and Sevastopol (3.7 sq. m.). Low affordability indicators were also observed in the Republic of Tatarstan (3.9 square meters), the Republic of Altai (4.0 square meters), Zabaikalsky Krai and Tomsk Oblast (4.1 square meters), Astrakhan Oblast (4.2 square meters) and the Republic of Bashkortostan (4.3 square meters).

"In general, housing in Russia is not very affordable - the average figure roughly corresponds to the number of square meters that can be purchased with annual savings by residents in the most recent regions on the list. Meanwhile, we see different subjects of the Russian Federation in the top. For example, in the Chechen Republic, with relatively low incomes, prices for new buildings are affordable, which allows its residents to count on a greater number of square meters. The situation is quite different in the Yamalo-Nenets Autonomous District, where the high cost of housing is offset by equally high incomes. In other regions of the center, northwest and the Caucasus, housing is affordable due to relatively high incomes and moderate cost of new buildings," said Olga Guseva, General Director of KEY CAPITAL.

In early November it was reported that every third Russian respondent considers "young" secondary housing - real estate, which is 3-10 years old - to be the most comfortable. Another 23% noted the comfort of new buildings - up to three years from the date of delivery of the object. About 30% called comfortable country house, follows from the results of the VTB survey.

December 18, it was reported that at the end of this year the average cost of 1 sq. m. in the secondary market in cities with a million residents rose by 6.1% and reached a mark of Br135 thousand. At the same time, the annual growth rate compared to 2023 decreased by 5.7 percentage points, told "Izvestia" in the press service of "Yandex Real Estate".