The volume of supply on the market of business class new buildings in "old" Moscow increased by 16%

According to the results of 2024 on the primary market of business class of "old" Moscow the volume of offer for 12 months has grown by 16%. It follows from the data of analysts of the company "Metrium", with which "Izvestia" got acquainted on January 16.

As experts noted, by the end of 2024 on the market of real estate of business class of capital 147 projects (their number increased on 16 for a year) with apartments and apartments were in realization. The total volume of supply at the end of the period amounted to 23,194 lots (+16.2% for the year), of which 19.5 thousand - apartments and 3.7 thousand - apartments.

The weighted average price of 1 sq. m. of apartments and apartments amounted to 461,270 rubles (+4.9% over the year).

At the same time, 24,911 share participation agreements (SPA) were registered, which is 3% less than in 2023. The minimum demand was observed in Q1 (5102 CDA per quarter). In Q4, the figure increased by 20.6% quarter-on-quarter to 6,901 MODUs, 19.7% less than in Q4 2023.

The share of transactions with mortgage in Q4 2024 compared to the same period of 2023 decreased by 34 percentage points and amounted to 36%. Compared to the third quarter, the indicator decreased by 14 percentage points in the fourth quarter, while the volume of registered transactions increased by 20.6% over the quarter, the analysts said.

Igor Sibrenkov, Commercial Director of GC "Osnova" said that the share of mortgage transactions in the primary market of business class in Moscow for the past year has decreased by half - from 65 to 32%.

"This is due to the fact that most of the buyers in 2024 against the background of rising costs of loans reoriented to profitable installment programs. An important advantage of many of them is the possibility to take out a mortgage on the balance after one to three years. Consequently, customers can fix the cost of the apartment at the start of sales, limit themselves to relatively small payments in the first years of payments, and then take out a mortgage at a favorable rate when the key rate of the Central Bank decreases. At the same time, the main driver of mortgage demand was family loans, including combined", - he explained.

In turn, Ruslan Syrtsov, Managing Director of Metrium, added that despite the tightening of market conditions, the demand for new business class buildings has shown stability due to the growth of exposure. In addition, developers promptly adapted to the changed realities.

"Sales leaders are distinguished by a wide variety of installment programs, which corresponds to current customer demands. The growing number of starts in the business class is primarily due to the reorientation of developers of the mass segment to a higher class. Due to this there are more affordable business class complexes", - he concluded.

At the end of December 2024 Syrtsov told "Izvestia" that developers of mass and business segment projects in 2025 may continue to reduce prices, setting a discount on a wide pool of real estate lots. But, in his opinion, there will be no sharp price reduction, as developers need to fulfill their financial obligations to banks and maintain at least a small margin.