Prices for apartments on the primary and secondary markets Moscow will continue to grow in 2024, according to experts interviewed by Lenta.ru, the CEO of the real estate agency HOMEWAY Marseilles Akhmetshin and general director of the Bon Ton real estate agency Valeria Tsvetkova. They also shared their forecast for an increase in the average cost of a one-room apartment.
If the mortgage interest rate and state support for the purchase of housing in new buildings in 2024 remain at the same level, then prices on the secondary market in Moscow will increase by about 10-15 percent, Akhmetshin believes.
The expert noted that now the average price of a one-room apartment with an area of 38 square meters on the secondary market, depending on the terms of sale, location, condition and title documents, is 10-12 million rubles. In 2024, the same apartment could reach a cost of 11.5-13.5 million rubles.
Prices for new buildings, according to Lenta.ru’s interlocutor, will increase by 20-30 percent. Thus, if now the average price of a one-room apartment of the same area with a completion date in 2024 is 14-16 million rubles, then the same one-room apartment in 2024 with a delivery date in 2025 will cost 16-20 million rubles.
The main reason for the increase in real estate prices in the new buildings market is the increase in the cost of building materials and work. The secondary market is affected primarily by the level of the key rate and mortgage rates directly dependent on it, as well as the high exchange rate of the dollar and euro, which spurs inflation
Tsvetkova drew attention to the fact that over the year the price of a one-room apartment, including two-room apartments, in primary housing increased by an average of 14.5 percent. Now the average price is 16.7 million rubles. In standard class it is 11.5 million rubles, in comfort class – 13 million, in business class – 20.7 million, in the premium segment – 38.6 million.
“In 2024, the cost of one-room apartments will be about 18-18.5 million rubles: in standard class – 12-12.5 million, in comfort class – 14-15 million, in business class – 21-21.5 million, in the premium class – 40-40.5 million,” the expert concluded.
Previously, Sales Director of the Etazhi real estate agency network Sergey Zaitsev came to the conclusion that prices for finished apartments in Russia began to decline for the first time since December 2022.https://musicnewsfirst.com/