APARTMENTS WILL STOP BUYING....
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Individual housing construction has caught up with new construction: demand for private homes is growing in Russia
In the first quarter of this year, approximately 29% of all mortgage loans were issued for the purchase and construction of private homes. In absolute terms, this amounts to almost 84,000 loans. Of these, 64% were for construction, and 36% for purchase.
"In the first quarter, rural mortgage limits had not yet been exhausted, which is why individual housing construction loans accounted for such high figures," noted Elena Lapshina, an expert at CIAN.Analytics. Almost all loans were issued under preferential programs.
Another 38% of mortgages were for existing homes, and 33% were for new construction, according to Central Bank statistics.
According to Domclick, the number of mortgages in the individual housing construction market grew throughout 2023. From the beginning of 2023 to April 2024, their share of the total number of mortgages issued by Sberbank increased from 6% to 20%.
https://drive.google.com/file/d/171oI...
This was facilitated by changes to Sberbank's terms: in 2022, it extended preferential mortgages to private home construction.
A square meter in a private home is three times cheaper than a square meter in a new home and half as cheap in a resale home. These prices are 55,000 rubles, 150,000 rubles, and 103,000 rubles, respectively.
The median borrower age is 37. This parameter has remained unchanged over the past year, while the median income has increased significantly. The proportion of married borrowers has decreased by six percentage points, while the proportion of women has increased slightly. More than half of mortgages (55%) are issued to borrowers without children; 27% have two children, and 17% have one. Approximately one percent have three or more.
https://drive.google.com/file/d/1TAZw...
A rental apartment pays for itself in 32 years in Russia.
On average, property owners in Russia earn 260,000-265,000 rubles per year from renting out their apartments. Evgeny Shavnev, CEO of the investment company FLIP, shared statistics with the press:
In Moscow, apartment owners earn an average of 506,000 rubles in rent.
In St. Petersburg, the figure is 360,000 rubles, and in Kazan (276,000 rubles).
81% of Russians consider real estate the most stable means of generating passive income. This figure has increased by 6 percentage points over the year.
The payback period for apartments has reached its historical maximum, averaging 32 years. The longest payback periods are in Nizhny Novgorod (40 years), Kazan (38 years), and St. Petersburg (36 years).
30% of apartments in Russia are purchased for investment purposes. However, only 25% of property owners sell their property after three years.
In May 2024, the average monthly rental rate for one-bedroom apartments in Moscow was 55,600 rubles, while for two-bedroom apartments it was 94,600 rubles, according to CIAN.Analytics.
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