Realtors predict decline in demand and prices for apartments in the Khrushchev

Photo: Andrei Makhonin/TASS

Khrushchev and a panel of nine new buildings significantly inferior in quality, so the interest in him over the last ten years has been steadily falling, primarily by young buyers

Demand and prices for apartments in panel blocks and nine-which can get to be demolished as part of the renovation of territories in the coming years will continue to decline — this forecast gives the realtor company “Inkom-real Estate”. Today the average cost per square meter in the Khrushchev is of 160.4 thousand rubles, which is 12% lower than the average in the secondary market of mass housing. And apartment in a block of nine-sold is 17.1% less than the average market price, according to a press release of the company (“RBC real Estate”).

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Last year, a typical apartment on the secondary housing market in Moscow can be bought for 4-4,2 million rubles, which is comparable to the prices for new housing. At the same time Khrushchev and a panel of nine new buildings significantly inferior in quality and diversity, therefore interest in them in the last ten years has been steadily falling, primarily by young buyers, realtors indicate.

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After the statement of the city authorities about the impending demolition of the buildings the interest of buyers for such housing has increased dramatically: during the first week the number of calls to “Inkom-real Estate” on sales increased by 25%. Informed realtors of companies “MIEL” and “the ABC of housing”, told “RBC real Estate” that the volume of supply in panel and brick blocks from the beginning of the year fell from 12% to 25%. And although in March, some owners slightly raised (from 0.5% to 1.3% depending on the category) the prices of apartments in these houses, the radical price jump did not happen.

In “Inkom-real Estate” predicts that due to low demand for apartments in houses of the first and second waves of industrial housing prices will continue to decline. This leads to the fact that the main buyers of such housing in the coming years will be immigrants from former Soviet republics, which will settle in places of compact residence of his countrymen. “These trends are already evident in the South-East and partly in the East of Moscow, and currently has all the prerequisites for their further development. Without the renovation of outdated housing stock, the majority of these areas, potential areas for the formation of a ghetto,” says the Director of the Department of the secondary market “Inkom-real Estate” Sergey Shloma.

Now more than 96% of all apartments in the Metropolitan Khrushchev and nine-storey houses are sold at a discount. The average discount is 15%, significantly higher than the market average (9%), calculated in “Inkom-real Estate”. Only such houses accounted for 40.2% of the volume of supply on the secondary housing market in the capital (excluding New Moscow).

That in Moscow will carry all of Khrushchev, it was announced in late February at the meeting of the mayor Sergey Sobyanin and President Vladimir Putin. The program will affect 8 thousand houses with total area of 25 million square meters, which are home to 1.6 million people. While demolition can enter not only the building, but panel nine-floor house.

For the implementation of new programs in the state Duma was introduced a bill providing for amendments to the law “On the status of the capital of the Russian Federation” and other regulations, according to which the authorities of Moscow will receive additional opportunities for the renovation of old housing. The document also defines the parameters of the provided housing at the resettlement, and other issues. It became known today that the presidential Council for codification and enhancement of civil legislation criticized the bill, saying that he is not the solution — upgrade the housing stock.
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