Moscow has recorded a 15-year record high demand for new buildings

Moscow has recorded a 15-year record high demand for new buildings
In 2023, 166.4 thousand equity participation agreements in housing construction (DDU) were concluded in the capital - this is the maximum result in the entire history of such statistics (since 2009), according to analytical accounting data.
As noted in the materials, records were updated in both residential and non-residential (apartments, parking spaces, commercial space, etc.) segments of the new buildings market.
The capital's primary real estate market demonstrated impressive results in 2023, becoming the most productive in terms of the number of transactions in the entire 15-year history of statistics. At the end of 12 months, all previously set records were updated, experts say.
In total, from January to December 2023, 166.4 thousand preschool children were registered in Moscow - an increase of 36.3% by 2022 (122 thousand) and by 15.6% by 2021 (143.99 thousand).
Among the main reasons for the growth in demand for new buildings, experts cite rising mortgage rates, expectations about the end of preferential programs and tightening requirements for mortgage borrowers: all this stimulated buyers to enter into a deal faster.
The large number of transactions with new buildings in 2023 is due to a number of reasons. Firstly, in 2022 a certain amount of pent-up demand has formed due to external shocks. In 2023, the real estate market proved to be quite stable; people continued to purchase real estate, experts say.
Secondly, this is a change in the key rate in conjunction with preferential mortgages. Part of the demand from the secondary market has flowed into the primary market due to an increase in rates for market programs. Also, the change in the key rate encouraged those who had valid mortgage approvals at more favorable rates from the previous period to purchase.
In addition, demand was affected by information from the authorities that preferential mortgages are likely to expire on July 1, 2024
In December, according to analytical reports, there was also a record number of child-care units for this month - 18.86 thousand. This figure is 14.6% higher than the results of November and 54.9% higher than the results of December 2022. Compared to December 2021, the increase is 19.8%.
December on the new buildings market retained its title as the busiest month of the year for registration of transactions. For the first time, Rosreestr recorded a monthly indicator for DDU - 18.8 thousand rights to residential and commercial real estate. At the same time, new maximum values ​​have been established for the purchase of apartments and non-residential premises, experts note.
In the residential segment, the December record was 13.09 thousand DDU (+20% for the month and +46.4% for the year), in the non-residential segment - 5.77 thousand DDU (+3.8% and +78.4%, respectively ).
According to analytics, in December, 19.3 thousand lots were sold in new buildings in the capital, and developer revenue exceeded 277.3 billion rubles. A square meter of housing in new buildings in the capital for the year, December to December, increased in price by 19%, to 304.9 thousand rubles.
From statistical reports it follows that 2023 was also a record year for the demand for secondary housing and mortgages.

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