The demand for new buildings in the third quarter of 2021 fell by 10 percent 
Russians have become less interested in buying new buildings. These are the conclusions reached by the Cyan experts, whose research is at the disposal of Lenta.ru.
The demand for housing in new buildings in the third quarter of 2021 fell by 10 percent. At the same time, experts note that the decline in demand is insignificant. The revision of the preferential mortgage program did not lead to a sharp drop in the number of transactions for the purchase of apartments in new buildings. The number of equity participation agreements in Russia decreased to 209.4 thousand, while in the previous quarter their number was 232.8 thousand. In the second quarter, there was an increased demand due to the upcoming revision of the concessional lending program. At the same time, the number of contracts concluded in the third quarter exceeds the indicators of the first quarter of 2021 (189.7 thousand).
Despite the general drop in demand, Russians continue to buy real estate in the south. Compared to the second quarter, the number of transactions increased by a quarter. This region accounts for about 15 percent of all concluded transactions on the primary market in Russia. According to this indicator, the Southern Federal District is second only to the Central (38 percent). Among all the regions of the district, 65 percent of the contracts were in the Krasnodar Territory.
The developers managed to avoid a serious drop in demand on the market thanks to the developers' programs. “Interest in the primary market will continue even with the 'zeroing' of preferential mortgages; this is largely the merit of the developers themselves, who are developing their own subsidized programs developed jointly with banks,” said the head of Cyan. Analytics “Alexey Popov.
Earlier in November, analysts from the Central Bank said that the tightening of conditions for issuing loans will hold back the process of market growth, despite the preferential programs. It is expected that in the next half of the year, banks will begin to tighten rules for mortgage lending due to the increase in the key rate. According to analysts' forecasts, mortgages will become less attractive for Russians.