Available space: the number of new comfort-class buildings decreased by a third
During the year, the number of comfort class offers in Moscow decreased by 33.4%, market participants said. This is the only segment that has gone into negative territory in a year, all the others show stable growth. The trend is associated with the transition of developers to more expensive categories that are in demand from buyers, experts say. At the same time, the comfort class remains popular in Russia as a whole. About what else the fall is related to, see the Izvestia article.
Should we expect prices to rise
In 2025, the number of offers in new comfort-class buildings within old Moscow decreased by 33.4%, analysts and market participants told Izvestia. This is the only segment that went into negative territory in a year, NDV Supermarket of Real Estate clarified.
Half of the offer of comfort-class lots is presented in ten districts of Moscow. The leaders are Metrogorodok — 7.6% of the total share of offers, Tsaritsyno — 7.2% and Solntsevo — 6.8%. Their number decreased by 31.6% year-on-year in June, and 11.4 thousand comfort-class lots are currently on the market, added Natalia Shatalina, CEO of the RedCat aggregator of new buildings.
"If we move to New Moscow, then the drawdown has affected both the business segment, which has lost half of its volume, and the comfort class," she stressed.
In the first quarter of 2025, sales started in just two new projects and seven buildings within the previously withdrawn residential complexes, said Aigul Yusupova, managing partner of the development company Unikey.
— In the whole country, there is a reduction in supply and demand in the mass and comfort class, especially in conditions of high key interest rates and lower mortgage availability, - she noted.
At the same time, all other segments show steady growth: in the business class, the volume increased by 12.4%, and its share by 9.5%, in the premium segment by 7.2%, and the elite class increased almost 2.7 times over the year, said Elena Chegodaeva, head of the analytics and consulting department at NDV Real Estate Supermarket.
— We have been noticing an increasing trend of new elite projects for a year now. Following this, demand is also growing," she said. — During the year, it increased by 46% based on the results of sales in the first five months. It is this segment that remains in an advantageous position and does not depend on mortgage rates.
In addition to the comfort class in Moscow, there is a drop in demand in the mass segment: in the first quarter of 2025, it fell by 20% for economy-class housing, while supply decreased by 16.8% over the year, Aigul Yusupova added.
"At the same time, not a single new project in the mass segment was put on sale during the quarter," she said. — In the business class and premium and elite segments, the volume of supply is either stable or growing, while demand and prices continue to increase.
The Comfort class suffered the most from the completion of the state mortgage program at 8% and restrictions on family and IT mortgages, said Rustam Azizov, Director of Mortgage Sales and Implementation of Financial Instruments at A101 Group.
"Demand is gradually recovering now," he said. — But this can lead to a shortage in the market — developers, with all their desire, will not be able to quickly increase the volume of new projects, it takes time. Accordingly, shortages can trigger price increases.
Why did the supply drop?
In general, the opposite trend is observed in Russia — the share of comfort-class apartments, on the contrary, has increased from 27% to 50%, said Ildar Khusainov, director of the federal company "Floors".
"In recent years, developers in the regions have increasingly switched to building comfort-class housing," he explained. — At the same time, the current market situation with limited preferential mortgage programs and the unavailability of market loans led to the fact that the buyer began to refocus on more budget housing options, as a result, the share of comfort-class apartments in the total supply began to grow.
In the regions, due to lower land costs and lower construction costs, developers are actively developing comfort-class projects regardless of market fluctuations, Alexey Gusev, CEO of Glavstroy-Real Estate, confirmed.
"This allows us not only to maintain a stable supply level, but also to demonstrate a steady growth in the volume of such projects," he said. — In Moscow, the reduction in the supply of comfort class is largely due to economic reasons. The cost of land and the cost of construction in the capital have increased significantly, which makes comfort-class development projects economically unprofitable.
It is more attractive to add several improvements to a project of this class, extending it to the minimum requirements for "business," said Fyodor Ushakov, sales director of the Mangazeya development company. These are higher-quality materials, thoughtful layouts, panoramic windows, or service elements that increase the project's marginality with the lowest possible cost difference between segments.
— The second point is the urban renovation program, — he reminded. — Moscow itself generates huge volumes of new housing, formally related to the comfort class. Apartments in these buildings, going on free sale, create serious competition, but the key advantage of the city is the price. The renovation offer is often cheaper than the market one.
According to him, this affordable pool of apartments attracts some potential customers, for whom comfort is primarily an acceptable cost.
Consumer preferences in the real estate sector are undergoing significant changes, and this also affects the comfort class market, said Andrey Safronyuk, CEO of Rodina Group.
— Many people are starting to review their requirements for the quality of housing, attaching greater importance not only to the property itself, but also to its surroundings, infrastructure and comfort level, — the expert explained. — In this regard, buyers prefer to wait for more suitable conditions on the market and purchase housing of a higher class.
What to expect from the real estate market
The number of offers in the comfort class is decreasing due to a combination of factors: on the one hand, this is a reduction in the launch of new projects and the sale of inventory, on the other hand, there is an artificial rush of demand fueled by market participants, says real estate expert Evgeny Tkachev.
— The main effective demand is concentrated in the comfort segment. And given the attractiveness of the location, we can conclude that the decrease in supply within old Moscow also indicates the greater popularity of this location among buyers," the expert believes.
If you look at the regions, there is no decrease in supply in Rostov-on-Don, Krasnodar and other cities with a high degree of overstocked market.
"This is due to a general drop in demand and a reduction in the number of investment transactions," he added. — Investors are beginning to become disillusioned with buying residential real estate for investment, as the price of new buildings is not growing, and there is strong competition in the rental market. This makes real estate investments in most metropolitan areas unprofitable.
Now the situation is ambiguous: developers are slowing down projects, and when the buyer returns to the market, demand is likely to greatly exceed supply, said Elizaveta Rodina, head of marketing research and analytics at the Glavstroy development company.
"During this period, we may, on the contrary, see an increase in prices, but it is not yet clear when this will happen," she added. — Therefore, projects with a high degree of readiness remain attractive for those who want to meet their housing needs now.
The trend towards comfort class will always be relevant, especially if there is a preferential family mortgage program, says Vladimir Kravchenko, Vice President of Marketing at the construction and investment company Development-Yug.
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