Overview of the secondary market

Overview of the secondary housing market: no reason to be negative

Despite the protracted economic problems of Russia, and the general deterioration of the financial situation in the world, transactions with pre-owned real estate in the country showed positive dynamics. The overview of the secondary market shows an increase in sales in all cities-millionaires. Prices of apartments have slightly increased, but this does not stop the residents of Russia from buying housing. Let’s talk more about the real estate situation.

Overview of the secondary market: where did apartments go up the highest price?

SRG research company annually publishes an overview of current prices for real estate in major cities of the Russian Federation. As it follows from the fresh document, the demand for housing in millions of people remains quite high, there are a lot of transactions and, consequently, the price per square meter is growing.
The most demanded secondary housing was in Kazan. It was here that the highest price growth was recorded in 2018. If at the beginning of the year it was possible to buy 1 m2 for 65.5 thousand rubles, now the prices have reached the mark of 73.9 thousand. In total, the price rise was 12.7%. Novosibirsk took second place in the ranking. In January 2018 a square meter of residential facilities here was estimated at 56.4 thousand rubles, and by January 2019 this amount increased to 61.2 thousand. The positive dynamics was 8.6%. The third place was occupied by Ufa, where previously the real estate cost 61.7 thousand rubles, and by the beginning of 2019 it increased to 66.2 thousand, which is 7.3% in percentage ratio.

In addition, SRG experts have recorded an increase in the cost per square meter of housing in several cities, which do not reach the mark of 1 million inhabitants. However, they are united by an important factor – geographical location. They are all located in the Far East. In particular, real estate in Khabarovsk went up by 17.7%, in the city of Nakhodka – by 15%. In addition, experts noted price hikes in cities such as Artem – by 12.5%, Komsomolsk-on-Amur – 12.4%, and Vladivostok – 11%.
Among the cities with the population of millions were also such settlements, where the cost per square meter for the year has not practically changed. In particular, SRG experts noted that housing prices rose by only 0.8% in Rostov, 0.6% in Chelyabinsk and 0.5% in Krasnodar. This is not surprising, as Chelyabinsk is one of the cities with a terrible environmental situation, while Rostov and Krasnodar are located in the southwestern part of Russia, which traditionally suffers from poor economic conditions, high unemployment and low wages.
New buildings are also worth mentioning. Changes in the price of primary housing became known from the analysis of experts portal Domofond. The most interesting for buyers are resort areas. In particular, in Sochi marked price increases by 24%, and in Alushta – by 15%. As for the Moscow region, here most buyers like Lyubertsy. On average, 1 m2 of housing here rose in price by 20%.