Over the past two years, residents of most megacities have begun to more often choose new buildings in the suburbs and rural areas.
The trend was most pronounced in Nizhny Novgorod and Krasnoyarsk , Chelyabinsk. At the same time, in the most active regions – Moscow, St. Petersburg and the Krasnodar Territory – interest in apartments within the city is not decreasing.
Where buyers choose primary housing in 2023
Primary market: the ratio of the number of mortgage transactions for the purchase of real estate in the regional center and the total number of mortgage transactions in the region. Based on Sberbank data for 2023
In 2023, in the vast majority of the largest regions, buyers choose real estate outside the administrative center: the share of apartments purchased within the city is 19–52 %.
The greatest interest in real estate in the suburbs and villages is noted among residents of the Republic of Tatarstan, Krasnodar Territory and Chelyabinsk Region. The percentage of apartments purchased outside the city is 81%, 76% and 74%, respectively.
Residents of the Perm Territory, Omsk and Volgograd regions demonstrate the least interest in primary real estate outside the city. The percentage of transactions for the purchase of primary apartments outside the administrative center is in the range of 48–53%.
Alexey Leipi, director of the Domklik division of Sberbank:
“The study showed that over the past year the trend towards a shift in demand from regional centers to the periphery has intensified. The trend is evident in most of the largest metropolitan areas in Russia, with the exception of Moscow, St. Petersburg and the Krasnodar Territory. We attribute the shift in consumer interest outside of regional centers to the increased attractiveness of preferential mortgages and the influx of new borrowers into the housing market under construction. Considering the current level and dynamics of prices, new buyers are choosing more affordable options.”
How customer preferences have changed
Dynamics of changes in the ratio of purchased apartments in the capital city of the region and the total number of purchased apartments in the region. The data is based on statistics of Sberbank mortgage transactions in the primary market for the period from 2021 to 2023
Comparison of data for 2022 and 2023 showed that the interest of buyers in purchasing primary apartments directly in capital of the region is decreasing.
Thus, a decrease in the share of housing purchased in the regional center is observed in the vast majority of megacities, most of all in the Nizhny Novgorod region (-11%), Krasnoyarsk Territory (-6 %), Chelyabinsk region (–6%), the Republic of Bashkortostan (–6%) and Omsk region (–5%).
Nevertheless, in the capital regions, consumer interest in primary housing within the city does not weaken. An increase in the share of purchased apartments located in the central part of the region is observed in both 2022 and 2023.
According to analysts, maintaining demand for apartments in the capital city of the region is ensured by deeper penetration of preferential mortgages, as well as by the influx of buyers from other cities.
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