Second-hand housing prices increased by 14% over the year – Rossiyskaya Gazeta

From October to December, the square meter of secondary property increased in price in the 70 cities studied, with the exception of Krasnodar, where the drop was 0.3%. Prices have increased the most in recent months in Chelyabinsk (by 17.8%) and Magnitogorsk (by 14.9%).

On average, the price per square meter of housing increased by 6% during the quarter, up to 109,251 rubles.

Since the beginning of 2023, the square meter of secondary housing has risen in price everywhere except Sochi (here it fell in price by 2.7%). It was especially strong in Chelyabinsk (44.7%), Magnitogorsk (39.1%) and Nizhny Tagil (34.2%).

Prices increased the least in the busiest markets: in Krasnodar (by 0.3%), Kaliningrad (by 1.7%), St. Petersburg (by 2.5%) and the Leningrad region (by 2. 7%). In the Moscow region, “square” prices increased by 4.6%, in Vladivostok by 4.8%, and in Sevastopol by 5.1%.

On average, for all cities the increase in square meters was 13.7%.

“Resale real estate in Russian cities grew uniformly in the first three quarters, between 2 and 3% per quarter, but in the fourth there was a jump to 6%. This was due to the increase in mortgage rates: Buyers tried to have time to obtain loans on the previous conditions, and sellers, taking advantage of the enthusiasm, began to raise prices. In addition, in a number of cities, secondary market demand began to flow from the market for new buildings, where new conditions Preferential mortgages have become critical for buyers,” says the general director of the portal Pavel Lutsenko. “In the new year, the growth of prices for secondary apartments will probably return to its usual modest values. We do not expect a drop in prices: “Firstly, because of the growing inflation and, secondly, because of the fact that the regular market competes well with the primary market in terms of prices.”