Avito Real Estate: at the beginning of the year, Russians bought 36% fewer apartments in new buildings

In January-February 2023, the demand for new buildings in Russia decreased by 35.9% compared to last year, the Avito Real Estate service found out. Demand fell the most for new buildings in Kaliningrad (by 63.7%), Saratov (63%) and Stavropol (57.8%).

Demand for new buildings grew only in Tomsk (by 28.2%) and St. Petersburg (0.4%). In Moscow, demand fell by 44.7%. Kaliningrad has become the only city with a population of over a million where prices for 1 sq. m. m (by 7.8%).

“This is due to the unstable news background and the general economic situation. Some users of the platform, who were ready to invest in real estate in 2022, are now hesitant and afraid to take this step because of the blurry prospects for the future, ”explained Dmitry Alekseev, head of primary real estate at Avito Real Estate.

At the beginning of the year, a slight revival of demand was recorded in the markets of new buildings in the largest cities, but this has not yet led to a noticeable increase in the cost of housing. The average cost of new buildings in the 18 largest regional markets of Russia (16 million-plus cities, Moscow and Leningrad regions) at the beginning of February amounted to 140 thousand rubles, CIAN.Analitika reported. The experts of “Etazhy” noted an increase in the cost of new buildings in Russia as a whole by 0.3% per month, up to 101.7 thousand rubles. per sq. m.

Details – in the material “Kommersant” “Prices follow demand.”

Laura Keffer