Real estate prices: is it profitable to buy a house or cottage this fall

Autumn is traditionally an unpopular period for purchasing garden and residential buildings. The peak usually occurs at the beginning of spring, when the summer season opens. However, this year the situation in the country is different. Analysts and realtors talked about the situation on the suburban real estate market in the Moscow region and beyond.

What changed?

Due to the pandemic, many Russians were unable to spend their holidays abroad and preferred to rest outside the city. A lot of citizens, especially in the Moscow region, moved to villages - some temporarily and some for permanent residence. As analysts of large real estate agencies noted, in the spring and summer of this year, the demand for the "fence" has increased several times. Does it mean that in the fall it will be possible to actively engage in the selection of a summer residence, a cottage?

Prices are reduced by 7-10%

The season is almost closed, so during this period the value of suburban real estate usually falls. It is believed that everyone who wanted to buy an individual house or cottage has already done so. And the owners, who did not manage to sell their properties, lower the price in order to attract a buyer. The most favorable discounts can usually be seen at the end of autumn.

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Realtors recommend waiting for the cold weather this year as well - then the chances of finding an affordable option are higher. Typically, the price will be 7-10% lower than in summer and spring. The seller can give a discount and more. This is because owners are often not willing to wait another year for a more profitable sale. Moreover, the maintenance of a garden house until the next opportunity to sell seems justified to few. Buyers want to assess the condition of the site until the first snow falls.

But, as market experts emphasize, during this period, mostly dilapidated buildings, houses for demolition are offered at a reduced price. And comfortable houses and summer cottages, ready for year-round living (with heating and other amenities), are stable and even grow in price - there is no need to expect an autumn discount.

Deferred demand

According to analysts, this season "deferred demand" is relevant. We are talking about people who rented country houses and summer cottages for the summer and decided to purchase these objects. This is beneficial for the owner (if he was planning to sell the property), since he does not need to look for buyers or prepare the house. The deal will be here and now. Therefore, the owner is more willing to give a 5-7% discount.

Buyers are former tenants. They already know this house, the minuses and pluses of the building, they are aware of the local infrastructure and the situation with neighbors.

Fake discounts

The primary suburban market (ready-made individual houses) of the Moscow region, according to analysts, is characterized by stable demand. Discounts will be provided only by those developers who have sharply increased the cost in the summer months. There are almost no new projects in this segment, so the existing objects are being actively bought up. Companies don't need to cut prices. Some developers have noted a twofold increase in requests from potential buyers.

How prices have changed

During the period of self-isolation, the cost of suburban residential buildings in the Moscow region, according to the real estate agency, increased by 10-15% compared to last year. The dachas near Moscow, according to CIAN, went up in price by 5%, according to the real estate company - by 10%. The average growth in prices for cottages from the developer was 8%.

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Alexei Popov, head of the analytical center CIAN, believes that houses in the suburbs and villages are not as interesting for Russians as urban housing. According to him, interest in the "fence" is gradually decreasing after a sharp jump in March - April, but still remains above the values of last year. People still prefer to rent at home rather than buy. Views of advertisements for renting such housing are 77% higher compared to 2019, and advertisements for sale - by 53%.

It was expected that due to the coronavirus, real estate prices in the Moscow region will fall, as the financial capabilities of citizens are weakened. However, this did not happen. In the country, house prices in 69 regions increased by an average of 10% (in some regions by 35%).

Which houses are in priority

According to CIAN agencies and analysts, citizens prefer houses located in villages with a developed infrastructure. These are not only shops and cafes, but also kindergartens, schools, medical institutions. More often they look through ads with a cottage for one family, with an area of 100-130 square meters and with a plot of no more than 10 acres. There are popular offers that do not require large expenses - so that you can enter as soon as possible.

Brick is a priority, especially in the sphere of elite housing (74% of elite cottages are brick). They buy well country houses with communications, legally clean objects, with land surveying and the absence of disputes with the owners of neighboring land plots. But there are few good offers.

The growth of mortgages for the "fence"

During the first half of the year, the volume of mortgages on suburban real estate increased by one and a half times. Vladimir Yakushev, Minister of Construction and Housing and Utilities, attributes this to the pandemic. The coronavirus, he said, has shown the importance of developing individual housing construction in Russia.

Nevertheless, experts agree that high-quality finished houses outside the city (individual housing construction, objects suburban real estate), in the suburbs and other Russian regions there is not enough, and the collapse of prices has not yet is foreseen. You can only count on a seasonal discount (7-10%) for dilapidated houses or for a situation when a person urgently needs to sell a house.

What is happening in the real estate market in your region, have the prices for country houses gone up? Write in the comments!

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