21 November 13:50
Sales of apartments in new buildings in Russian cities with a population of more than 500,000 people in October increased by 21% compared to the previous month, Vedomosti reports, citing a study by CIAN.
According to her data, during this time 44,400 sales contracts were registered there. Avito Real Estate provides similar figures. The number of transactions with primary housing in large cities over the same period increased by 24% on a monthly basis and by 47% on an annual basis, she reports with reference to the state company Dom.RF.
The Etazhi company also claims that the demand for apartments in buildings under construction has increased by 21.7% over the past month. But over the year, sales, according to her estimates, increased only 31.9%.
Against the backdrop of a reduction in the key rate, consumer optimism is growing – there are more people who count on the possibility of soon refinancing their mortgage, leading CIAN analyst Elena Bobrovskaya explains the trend. The entry of deposit holders into the market and seasonality also, in her opinion, played a role.
Demand is also fueled by expectations of new restrictions on family mortgages, which should come into force at the beginning of 2026, emphasizes leading analyst at Etazhi, Alexander Ivanov. So, from February 1, it will be possible to obtain only one such loan per family. In addition, the possibility of introducing differentiated rates is being discussed, for example, for families with one child under six years old they could be raised to 12%, notes Optima Development CEO David Khudoyan. And this, he said, encourages buyers to rush to take out a mortgage under the old, more favorable conditions.
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