An absolute record in demand for secondary housing in Moscow has been recorded

An absolute record in demand for secondary housing in Moscow has been recorded
In January - December 2023, 174.95 thousand transactions were registered in Moscow on the secondary housing market. This figure was the highest for the year for the entire period of statistics (since 2009), according to analytical reports.
The result for 12 months of 2023 is 31.9% higher than the results of the same period in 2022 (132.63 thousand) and 2.4% higher than the previous record, which was set in January - December 2021 (170.93 thousand) , analysts explain.
Increased demand for secondary housing in 2023 against the backdrop of repeated increases in the Central Bank’s key rate and tightening of the regulator’s policy on state mortgage programs is also noted by other market participants. Such surges in demand, experts say, were observed, in particular, in the summer and in October.
High buyer activity was also recorded in the elite segment of the market. According to experts, demand grew by 15% in the fourth quarter. In the final months of 2023, the segment saw a significant acceleration in the pace of deal entry: in September-December 2023, it was an average of two weeks, compared with four to six months in the previous three quarters.
Increased demand continued in December, experts say. According to analysts, over the month the supply of secondary housing in Moscow decreased by 8% compared to November. The sharp dynamics is due to the fact that buyers with mortgages approved at old rates were in a hurry to exercise their right to purchase a home before the end of the year, experts explain.
According to analytical reports, in December 2023, 14.86 thousand transactions were registered in Moscow on the secondary housing market. This figure is 3.4% lower than in November of this year (15.39 thousand).
Dynamics of the number of transfers of rights under registered contracts of purchase and sale (exchange) of housing.
The December result is 5.9% higher than the results of the same period last year (14.03 thousand), but is 27% lower than the record December 2021 (20.37 thousand), the department clarifies.
By August, the number of secondary transactions in the capital reached the maximum of 2023 (17.53 thousand) and until October remained at about 17 thousand contracts. But in November the decline began, experts say. “Nevertheless, the fluctuations observed throughout the year did not prevent the final results from becoming a record.”
Last month, experts also reported a record demand for secondary housing in Moscow. The number of transactions in the segment for January - November 2023 amounted to 160.08 thousand and became the maximum for this period in the entire history of statistics.
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