Photo: Kirill Zykov / AGN “Moscow”
Over half the number for sale of apartments in houses under the program of renovation in Moscow has increased by 196 per cent, from 278 in April to 822 in October of 2019, the materials of the portal Domofond.ru received by the editors”.ru”.
According to analysts, at the same time supply has increased and demand 291 percent. The peak of interest to the apartment doomed for demolition, was reached in August, then began his slow descent. “The growth of demand for apartments in buildings under renovation is associated primarily with increased supply, — explained in the provided materials. — Apartment prices in the five-story building under demolition, significantly lower than the market average, and it is not surprising that they attract attention. But the real deal does not cover the growing of offers: apartments in buildings under renovation are accumulated on the market, many of them will not find a buyer.”
Over the past six months, the price of housing supply under renovation went up by half a percent, estimated by experts. If in April the “square” in this category cost an average of 185,9 thousand roubles, in October — 188,6 thousand. However, until July prices have decreased by 1.8 percent in three months. From July to September the offer prices returned to the April level, and in October grew by a half percent.
“It is easy to see the connection between rising prices for apartments and low interest of potential buyers, — the Domofond.ru. Probably they think housing prices are inflated to be demolished, but the owners are not ready for big discounts”.
The program of renovation of old housing stock launched in Moscow in 2017, 2021 and it plans to relocate about five thousand homes. The launch pad for the renovation were approved in September 2017, the list continues to grow. The first participants of the program moved to a new apartment in February 2018.
Video, photo All from Russia.