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Prices for new buildings are stagnating.
Restate research shows that new building prices have not fallen globally since the end of mortgage subsidies, and current trends suggest that new meter prices are unlikely to fall significantly.
Discounts and long-term installments allow developers to keep prices at a minimum level. The actual collapse was recorded only in Volgograd.
From the beginning of July to mid-October, the average price per square meter of new buildings in the city fell by 42,000 rubles (-27%). As local developers increased supply, demand fell by almost 60% since July 1.
In Sochi, since July 1, base prices in absolute figures have fallen by 43,000 rubles compared to Volgograd. m from each square. The average cost of a square meter here was and remains very high compared to million-plus cities in Russia, so the decrease in relative indicators is not very impressive. It was only 8%.
In the capital, the area increased by only 9 thousand rubles in 3.5 months. (+2.5%). Over the past year, prices in Moscow have been growing very smoothly and relatively evenly. As a result, compared to October 2023, the difference was less than 30,000 rubles. (+7.5%).
On the secondary market even less (+13,000 rubles or +3%). The situation in St. Petersburg is very similar. Prices for new buildings have grown almost imperceptibly (+2% since the end of June), and on the secondary market it was completely calm.