Buyers of apartments have found an alternative to Moscow

Kommersant: demand for residential real estate is shifting from Moscow to the Moscow region

for a sharp rise in prices for real estate in the capital, potential buyers of apartments are looking for alternative options in the suburbs. Meanwhile, the volume of supply of new buildings in the region over the past five years has more than halved, writes Kommersant.

As the newspaper found out, some large Moscow developers, after a decrease in demand for apartments in Moscow, also found sites for themselves in outskirts of Moscow. In particular, the Granel group plans to buy about 40 hectares in the Odintsovo District for the construction of 300 thousand square meters of real estate.

Regional Director of the Colliers Residential Real Estate Department Kirill Golyshev believes that the new Granel project may take up part of the demand more expensive projects implemented by the company on the territory of New Moscow.

Olga Shirokova, director of the consulting department at Knight Frank, in turn, predicted a further increase in demand for affordable housing in the Moscow region. Therefore, in the near future, the return of interest in this market from large developers is likely, she said. For example, the Tyumen developer Strana Development has already purchased land for development in Domodedovo.

Experts note that far from Moscow, it is still possible to find housing options for purchase under the preferential mortgage program, which provides for a credit limit of 3 million rubles.

Previously, analysts estimated the size of the discounts in new buildings throughout Moscow. The maximum in November 2021 reaches 20 percent – so much the developer of one of the residential complexes near the Tushinskaya metro station is ready to concede. On average, developers agree to provide a 5-7 percent discount.

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