Moscow. 25th of April. INTERFAX.RU – In Moscow, in five-story buildings subject to demolition for renovation, the cost per square meter increased by 13% over the year and amounted to 305 thousand rubles, Alexey Popov, head of Cyan.Analytics, told Interfax.
“Currently, about 900 lots are on display in old buildings included in the renovation program. This is about 2.5% of the total supply on the secondary market. At the same time, the share of apartments in five-story buildings on the market has decreased – before the launch of the program in 2017, there were 7- 8% of the number of advertisements,” Popov said.
According to him, the majority of owners prefer not to sell their housing, but to wait for demolition and relocation: “This is explained by the fact that the majority of those who moved under this program from the old housing stock to the new one were satisfied.”
The cost per square meter in renovation buildings is increasing faster than in the market as a whole.
“Now this figure is 305 thousand rubles, that is, plus 13% per year, with the rate of price growth in the city as a whole by 7% over the past 12 months,” Popov clarified.
According to the expert, the price of such apartments depends on the demolition order – the later the house is scheduled for demolition, the more vacant apartments there are and the lower the prices.
“Objects from the first wave, that is, with a demolition date until the end of this year, account for less than 5% of the supply, and buildings from the third stage (demolition period until 2032) account for 60% of the lots. These same objects are noticeably cheaper: by 10-12%,” Popov added.
Tags: Moscow apartments demolished renovation rising price faster rest secondary market
