In the segment of high-budget new buildings in Moscow, the share of transactions involving a mortgage loan increased to 28% in 2021, while since 2017 it has not exceeded 19%. This is evidenced by the results of a study by the international agency of elite real estate Savills, received by Izvestia on Monday, January 31.
The average budget of a mortgage transaction in the capital has grown from 66 million to 73 million rubles over five years. The area of purchased apartments decreased by 13 square meters. m, up to 100 sq. m. Over the past year, the transaction budget increased by 3 million rubles, and the area of mortgage housing increased by only 2 square meters. m.
In the elite segment, the average term of mortgage lending has increased to 20 years, while in 2017 this figure was about 13 years. In 2021, the loan term has increased by a year. Buyers of luxury real estate mostly pay off their mortgages ahead of schedule, but long-term lending is a convenient financial tool and reduces discomfort when making a large purchase, the agency notes.
Anatoly Dovgan, director of market monitoring and valuation at Savills in Russia, said that traditionally mortgage transactions in the elite market had a low share: the client preferred 100% payment or chose installments from the developer. The growth of the indicator at the end of 2021 is associated with comfortable mortgage rates and an increase in the volume of supply, as well as with an increase in the investment attractiveness of elite assets, the desire to upgrade the class of acquired real estate.
At the same time, in the regional markets, the share of mortgage transactions in the elite segment, according to MANTERA Seaview residence analysts, has reached 15–20% of the total volume of proposals submitted for implementation. The average value of a mortgage loan here is 114.3 million rubles. The average area of residences purchased on credit is 124 sq. m.
In November 2021, the Metrium company told Izvestia that in the third quarter, the average cost of a square meter in premium new buildings in Moscow decreased by 7%. This is the only segment of the capital market of new buildings, in which 1 sq. m fell in price, but did not rise in price in July-September. Developers attributed the decline in prices to the fact that new projects are entering the market, which are at the initial stage of construction readiness. And in the already under construction projects of this class, prices did not fall.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
