The economic life of Russia has been undergoing negative changes over the past few years due to sanctions, falling oil prices, and inflation, which have a detrimental effect on people’s well-being and their purchasing power. Due to the lack of financial resources during the crisis, many are thinking about where to find additional sources of income. Those who have real estate decide to sell it in order to receive a significant income and thereby improve the well-being of their family. But is it wise to take such actions? In this article, we want to present to you the opinion of experts on whether it is worth selling an apartment in 2019, so that if you want to do this, you know about the possible risks or benefits for yourself. Unfortunately, the real estate sector in the economy of our country is just as unstable as many other areas.
Last year, when experts were figuring out whether it was worth selling an apartment in 2016, many of them unanimously argued that if there are such plans, it would be better to implement them in time, because 2019 would be a bad year for this. The economic downturn in the state has led to the fact that the demand for housing in the country has become significantly lower than supply. For those who own real estate, it is simply unprofitable to sell it during a crisis, because the market value of residential premises will become as low as it once was in 2008, and maybe even lower.
Independent experts, discussing the question of whether it is worth selling an apartment in 2019 now, come to the conclusion that even with a strong desire to do this, the seller has low chances. Today, it is almost impossible to find buyers for housing who could pay for it in cash without intermediaries. People will prefer to either postpone the purchase of real estate until a more favorable time, or use the services of mortgage lending and some social programs that the state can offer in crisis living conditions.
What forecasts do some experts in the field of housing sales give regarding when it is profitable to sell an apartment in 2019:
Tatiana Demenok, a contender for the position of President of the Guild of Realtors of Russia, is confident that in 2019 the cost of a square meter in residential premises will be reduced by 7% from last year’s price. And this is only an approximate figure for Yekaterinburg. In other Russian cities with prestigious areas, in new buildings this percentage will not be so high, since it is not profitable for developers to significantly reduce the cost of housing. In such comfortable conditions, people always buy real estate in advance. Most likely, prices will fall for apartments and houses of the old stock, that is, for those that were built in the mid-twentieth century. This means that for those wishing to sell just such unclaimed property among the population, there comes a time when it is more profitable to sell an apartment in 2019 than to wait for another time, when there are too many similar offers on the real estate market. Those who have been looking for a way for a long time also have the opportunity to settle in the capital by purchasing housing, albeit not in a new building, but at an affordable price.
The head of the board of directors of the Best-Novostroy company, Irina Dobrokhotov, discussing the topic of whether it is worth selling an apartment in 2019, does not hide her pessimistic sentiments. In her opinion, the sale of residential premises in 2019 will be realized only by 50%, even if the economic situation of the country improves qualitatively due to the return of the former cost of a barrel of oil.
The expert is also confident that it is necessary to adhere to strict economic rules in real estate matters - choosing the right time when it is better to buy and sell an apartment. In 2019, if you want to save your money in national currency, then it is better to buy apartments and houses. When asked whether it is worth selling an apartment in 2019 now when the ruble is weakening, she gives a clear negative answer, since it is unprofitable. If you take this step, then only on the condition that the buyer pays you in dollars or euros.
Many capital real estate experts are convinced that 2019 is the time when it is better to sell a secondary market apartment, since the demand for such housing among Russians has always been much higher. No matter how paradoxical it may sound, prices for secondary housing in large cities of Russia increased by 12% during the crisis. This may be due to the fact that in times of crisis it is dangerous to enter into deals with developers of new buildings. After all, housing construction can stop at any moment, and when it resumes, the cost per square meter can rise sharply.
What should people do if deciding when to sell an apartment is more pressing than ever and requires urgency? In such cases, experts recommend that you immediately find an alternative option for purchasing, so that you, like people during the 1997 crisis, are not left without a roof over your head. They then saved their ruble savings as a result of a successful transaction on the sale of property, but the money immediately depreciated due to the sharp fall of the national currency at that time. Therefore, it is so important to always take into account the opinions of knowledgeable people in the field of real estate, who can give a clear recommendation on when it is better to sell an apartment in 2019.
Only after you decide for yourself whether you need to sell your apartment now, can you proceed to decisive action in order to realize it with maximum benefit for yourself.
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Editorial staff of RegionalRealty.ru
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Despite the constant fluctuations in the exchange rate of the dollar and euro, real estate is considered one of the most stable means of investing money, since it practically does not lose value. Many people invest money in it for subsequent resale or for renting out their home. To ensure that the sale transaction takes place without delay during the current period, we have prepared this article. We contacted expert realtors and received recommendations.
Photo from pixabay.com
During a crisis, the people who suffer the most are elite real estate segment. Apartments from this fund are quickly losing demand and value. Such objects are sold, as a rule, by people for whom this is a kind of business, and transactions of this kind themselves are considered very important. If you remember the previous economic crisis in our country, then you can also focus on luxury housing, the demand for which has fallen to the limit. In 2008–2009, luxury real estate was offered at significant discounts, after which the market for such housing became completely frozen.
According to the latest data, housing prices have risen during the crisis. If we take data for Moscow, the average increase in housing prices is 10%. Prices for economy class housing have risen by almost 15%.
Experts' opinions regarding the reasons for rising prices are divided. The following expert's comment shows that there is no crisis as such in the real estate market. The work of agents continues as before, and the demand for real estate promised to be more intense, but this did not happen. This is where the opinion about the coming economic crisis arises.
Anton Uchitel Head of the Academy of Sciences "Mr. DOM"
As our dear A. and B. Strugatsky wrote, “our people do not need unhealthy sensations.” We can talk about a crisis, but at least there is no crisis in the residential real estate market. And it is not expected. For some reason, everyone was expecting either a rush or a crisis. And what? If there is no excitement, does that mean there is a crisis? Not at all. The residential real estate market has a normal working atmosphere, which requires a specialist to provide high-quality, thoughtful work and material investments in promoting properties. Yes, before the New Year there was also a rush in the sales of new buildings, when they did not have time to sign the LDU, and the registration chambers refused to accept packages of 30–60 contracts for registration. But this psychosis was short-lived.
Now the work is in full swing. So the crisis in the residential real estate market is still far away. The crisis starts from the head. And it is now in those heads that are accustomed to grabbing pennies for pennies. This is the weak link that is slowly leaving our interesting game, because it does not know how to work tastefully and truly. Now the topic of returning licensing for real estate brokers is starting to sound louder and louder. This will further improve the market situation.
Despite the expert’s opinion, there is a drop in demand for real estate, although not critical. The fact that many people have lost the opportunity to purchase housing, which was available to them back in 2014, is a fact that is caused by the economic crisis in our country.
It is much more difficult to quickly sell a dacha. During a crisis, non-classical forms of ownership are not so liquid.
Also, many people are trying to buy a home right now, since mortgage rates have increased significantly. This is easy to explain. There is a certain category of residents of our country who have been planning to buy their own home for a long time. During this time, many were able to save money for a down payment on a mortgage. As soon as home loan rates jumped, these people quickly ran to apply for this loan, fearing that the rates would become even higher. Many banks took advantage of this.
According to preliminary forecasts of experts, the crisis may subside as early as next year, and therefore housing prices should fall. Therefore, many people are trying to sell their home right now, during the crisis, when they are most satisfied with housing prices. Those who managed to buy a profitable property before the crisis were especially lucky. Now they can sell it for much more. So we can assume that the crisis is quite dynamically affecting developers and investors.
In fact, the crisis simply slightly changes the rules of approach to the client. Home sales and demand may not change in certain market segments. The main thing is to have the broadest understanding of this segment. It is important for a realtor to know his strengths and weaknesses.
If you plan to make money by selling real estate, then you need to consider new buildings. This is a more modern housing, with an open layout, new communications. Moreover, new buildings have recently been built in new microdistricts, where the infrastructure is especially developed. If you purchase an apartment that will be rented out next year, then after its sale, even without renovation, you can earn approximately 30% of the cost of such housing. Naturally, this indicator is average, but its accuracy depends on the specific object.
If you are planning to simply change your apartment, then you should consider the secondary market. Apartments here have not risen in price significantly, since many people during the crisis are trying to get rid of their real estate on the secondary market.
We asked an experienced realtor about how things are going with real estate transactions during the crisis.
Real estate agency "HIRSH", Nizhny Novgorod
What are the prospects for the real estate market in the capital and regions of Russia during the crisis? Is it worth selling your home now, and if not, when do you think it will be possible?So, according to experts, the “freeze” in the real estate market will continue for some time. The main participants in the real estate market are citizens who are forced by life circumstances to make transactions with housing. Investors who, even during the crisis, still have the opportunity to expand their square meters are less active. It is almost impossible to predict how home sellers will behave, since the stability of their offers also suffers due to instability in the economy. Our experts also advise those who still plan to sell real estate during a crisis not to do it themselves. It is not always possible to predict the future position of the residential market. And only experts in this field have complete information on the state of the market.
- Any crisis period presupposes a careful attitude of people towards money and increased control over their expenses. Therefore, in the near future I predict a further decline in activity in the real estate market. Not to zero, of course, life goes on, but those who earned extra money from the crisis will wait for the price bottom, and those who lost will have no time for the housing issue. Alternative transactions will take place, but rising prices force you to consider the costs of other hassles (repairs, furniture, appliances).
Selling a home always involves achieving some other goal. If this goal is the acquisition of new housing (expansion of area or, conversely, reduction and receiving the difference to cover debts) housing, then now or later - the difference is small. If the goals are different, then it all depends on the circumstances. Prices are now looking down and the fall horizon is difficult to predict. But in the long run, real estate is still the most valuable investment.Name the main categories of people who purchase housing during a crisis
- Firstly, this is the category who need to leave, move in together, change their place of residence, reduce their living space (mortgages), etc. Secondly, people with income that allows them to invest. They may bear the costs of maintaining the property. This same category can afford to expand their living space, change the status of housing (an apartment to a house, a house to a castle, etc.).Is there a decline in activity from home sellers during the crisis? If so, is it possible to change this and motivate sellers and buyers?
- The behavior of sellers during such periods is extremely unstable: they either suspend sales, then inflate prices, or rush to find a buyer as quickly as possible, in a word, they become nervous. And there is a reason. Those who saw the sale as a source of money for investing in something other than real estate, considered the equivalent in dollars. And only now they began to calm down, accepting the inevitability. It cannot be said that the behavior of sellers has a constant vector during a crisis. Many have taken a wait-and-see approach, although the share of those who would like to sell investment properties (finished apartments, shares in new buildings) is growing.Which housing is profitable to sell during a crisis, and which is not?
- It depends on the period of the crisis. In the initial period, when there is confusion and lack of understanding of prospects in the market, housing with large dimensions sells well. Due to the large number of square meters, it is quite expensive, but this is what helps to find its buyer. Although smaller areas, and especially new buildings, are also in high demand. When the crisis emerges from the turbulence zone, the usual market rules apply - we need inexpensive one-room apartments, two-room apartments, small-sized studio apartments and budget suburban housing.What advice would you give to those who want to sell their home for the most favorable terms?
- First of all, I advise you to contact specialists in the real estate market. From them you can find out the current situation and try to predict the situation for the future. A realtor will always tell you what needs to be done and how to present your property in the most favorable light and skillfully defend the best price for you. If you want to “test” the market yourself to see if the deal is profitable at the moment, submit ads to a couple of websites and print publications. Very soon you will come to the conclusion that you need an assistant in selling and this will be an important step towards a profitable deal for you.
Photo: Valery Sharifulin/TASS
In early August, the official euro exchange rate reached its highest level in the last five months, approaching 69 rubles. The last time the euro rose above this level was in March 2015. The official dollar exchange rate in August also exceeded 60 rubles. (the dollar exchange rate as of August 5 was set by the Central Bank at 62.9 rubles).
The real estate market has not yet responded to the decline in exchange rates - usually the response lag is at least two months. The editors of RBC Real Estate asked experts and market participants what to do with real estate and when.
# 1. What will happen to housing prices due to the fall of the ruble?
#2. Is it profitable to sell an apartment now?
# 3. When to buy an apartment (for living and, conversely, for investment purposes)? And where is it more profitable to buy - on the secondary market (because there are discounts) or in a new building (because there is a subsidized mortgage)?
“Currently it’s possible to buy an apartment in Moscow 10-15% cheaper”
Sergey Shloma, director of the secondary market department of the agency "Inkom-Real Estate"# 1. The weakening of the ruble is a key factor that will not allow scenarios about a fall in housing prices by 25-30% by the end of the year to come true. According to our estimates, a significant number of potential buyers - people who have real needs in solving housing issues - are currently “sitting” in dollars in anticipation of a rise in the exchange rate. They want to sell the currency at its peak in order to enter the housing market with a good profit. There is a logic to this. As a rule, due to the difference in rates alone, such buyers have the opportunity to improve the quality of their housing: purchase a property of a higher class, with more rooms, a better location, etc.
We expect a relatively short-term surge in demand, which will support ruble prices for apartments. This already happened at the end of last year: then the devaluation of the Russian currency became a safety net for the ruble-denominated housing market of the mass segments.
# 2. About 80% of July sales on the Moscow secondary housing market were at a discount - this has not happened in ten years. Buyers expect discounts of 10-15% of the average market value of the property. Now the market is alive because a significant part of sellers accept these expectations and are fundamentally ready to bargain. The other part hopes for the fall - the beginning of the business season. I don’t think that autumn will turn out to be “golden” and we will see record jumps in demand and prices, because the fundamental reasons for the reduction in the number of buyers have not disappeared: people are saving, they are not confident in the stability of their financial situation. Another thing is that a certain pent-up demand has already formed, and the seasonal factor will also play a role. In addition, there is a tendency for the ruble to weaken. All of this should lead to a recovery in the housing market, although I would caution sellers against getting their expectations too high.
# 3. If a person has the need and opportunity to buy an apartment now, then he needs to do it. If you put off a trade in anticipation of a hypothetical profit, you may not have time to take advantage of the desired opportunities.
Now a situation has arisen where potential buyers are waiting for the “last carriage of the train”, hoping to jump on it when housing prices and mortgage rates are extremely low. In fact, we see the same game on exchange rates - albeit not on foreign exchange rates, but with the same risks. Any revival in demand is fraught with a deterioration in market conditions for the buyer. First of all, this is expressed in the reduction of the most attractive offers and in the categoricalness of sellers when bargaining. Currently, it is possible to buy an apartment in Moscow 10-15% cheaper than a year ago - in my estimation, this is a significant argument for the buyer. Today there are a number of potential factors on the market that will not allow ruble prices to fall significantly lower.
“You shouldn’t buy, but look”
Oleg Repchenko, head of the analytical center “Real Estate Market Indicators” (IRN.ru)# 1. The dollar index is rapidly falling, the ruble index is marking time. Sellers are holding out until the fall, hoping for increased demand. We believe that there will be no activation, so in the fall we will see a decrease in ruble prices.
# 2. Yes. In the medium term, apartments will become cheaper.
# 3. You don't have to buy it, you have to look for it. You need to monitor the market, and when interesting offers with good discounts appear, immediately conclude a deal. If sellers continue to maintain inadequate prices, then all that remains is to wait.
“The market is now at a price bottom.”
Dmitry Kotrovsky, partner of the development company Khimki Group# 1. Due to the weakening of the ruble, prices are rising for everything from bread to cars. Only real estate is getting cheaper. The main problem is that the sharp weakening of the national currency forces even those buyers who have enough money to buy an apartment to take a wait-and-see approach. People are afraid to spend money because saving in foreign currency allows them to earn income without taking any action. At the same time, price tags on the primary market practically do not increase; on the secondary market, private sellers provide discounts.
In the primary market, the only way to give buyers a signal that real estate prices cannot remain at the same level indefinitely is to link to a conventional currency, the rate of which will be indexed in accordance with the Central Bank dollar exchange rate. Perhaps some developers in the elite and business class will try to link their price lists not to the dollar or euro, but to conventional units that will not be indicated in public sources.
# 2. For a seller on the secondary market, now is a good time to sell - if, of course, you can find a buyer for the apartment without a discount or with a small discount. This will not be easy: sellers who want to sell an apartment for foreign currency are ready to return to the secondary market in the hope of further weakening of the ruble.
# 3. For an apartment buyer, now is the time to demand tangible discounts and preferences. They can be obtained: The market is currently at a price bottom due to low demand and seasonal factors.
“There are now a lot of mortgaged apartments that are being sold at a large discount”
Vladislav Pozdnyakov, private realtor# 1. If we talk about secondary real estate, there will still be some correction in value - at least until the moment when the owners begin to remove properties from sale. We are already seeing this consequence of falling prices: owners are simply not ready to sell housing so cheaply.
# 2. It is better to postpone the sale at least until the end of autumn. There are very few buyers in the market right now. Those that exist are looking for the cheapest properties, but even having found such an apartment, buyers begin to bargain and demand discounts.
# 3. It is better to buy an apartment for living now: in the current conditions it is difficult to predict market behavior, there is a possibility that the choice of apartments will be very small, and the prices will not be attractive. It is better to buy an apartment for living on the secondary market. Now there are many mortgaged apartments that are sold at a large discount.
“There probably won’t be any global price changes until the end of summer.”
Denis Popov, managing partner of luxury real estate agency Contact Real Estate# 1. Prices on the real estate market have already become ruble prices: in the comfort and economy segments this happened a long time ago, in business class relatively recently. The trend will intensify: according to our forecasts, the share of objects denominated in foreign currency will continue to decline. The adjustment of the national currency exchange rate for owners of ruble savings did not play a special role, since prices for ruble objects still remain unchanged. At the same time, dollar-denominated objects have become less accessible to such buyers.
As for owners of dollar savings, they can profitably invest them in real estate due to the next fall of the ruble. They have the opportunity to purchase a dollar property at a large discount due to summer discounts, or exchange money for national currency and buy an apartment on more favorable terms.
Of course, today it is better to purchase ruble-denominated objects. The issue with dollar properties still on the market is still open: sellers don't want to lose money, and buyers don't understand why they have to pay more. In such a situation, both buyers and sellers of dollar-denominated real estate will face difficult negotiations, as a result of which only discounts that are actually equal to the size of the fall of the ruble can lead to the completion of the transaction.
We do not expect global price changes until the end of summer. In September, we can predict an increase in ruble real estate prices. On the one hand, the holiday period will end, after which both sellers and buyers will return to the cities - the dynamic market of Moscow luxury real estate will react to this. On the other hand, developers will have to cover the costs associated with imported materials.
# 2. Selling an apartment is a long process; in the luxury market it sometimes takes up to a year. We believe that the property can be put up for sale now. With correct pricing, it will be possible to close the deal with the desired conditions in the fall, when the main buyers return from vacation.
# 3. It’s better to buy an apartment now - while summer discounts are in effect, and there is a lull in the market. Primary properties are the most profitable, since the majority of developers prefer ruble prices. In addition, developers have a sales plan that they need to fulfill: thanks to this, discounts on primary market properties can be pleasantly surprising. As for the secondary market, it will be possible to purchase an apartment profitably only from the seller who urgently needs money.
“The peak of activity will occur when the dollar exchange rate reaches 70 rubles.”
Sergey Kolosnitsyn, director of the suburban real estate department of Penny Lane Realty agency# 1. The situation will develop differently in different market segments. Prices for economy class apartments will increase slightly. The luxury and business housing market is expected to decline, largely due to the fact that prices here are still denominated in dollars. Buyers with foreign currency capital will begin to actively look for real estate, which previously cost $1 million, but has now fallen in price by half.
Those developers who managed to react to the jump in the exchange rate at the end of last year won over buyers by switching to rubles. Those who didn’t have time will soon try to take revenge on the wave of dollar strengthening. Those who have prices in foreign currency will convert them into rubles and fix them at an attractive rate for the buyer, thus adjusting prices.
# 2. Now is a good time for sales from the point of view of developers. Most likely, the funds invested in the projects were denominated in rubles - just like the loans taken out from banks. Demand for affordable products remains strong, so the developer has nothing to lose even when he boldly manages the supply price. In the secondary market, the only incentive for the seller is the need to sell their property.
# 3. You can highlight the most profitable niches. Buying real estate in dollars in general is not particularly profitable, unless you find a house that last year cost $1 million and is now offered for $500 thousand. Such an offer is found mainly in the primary business class market. According to our estimates, the peak of activity for dollar buyers will occur when the dollar exchange rate reaches 70 rubles.
For those who have savings in rubles, it is more profitable to make a purchase on the economy class market. Perhaps we can talk about investments there. If the dollar rises, developers will raise prices in response to demand. The demand is due to the fact that there are active sales in the mass segment. The interest of buyers is fueled by the prospect of getting a good area 5-10 km from Moscow at a very affordable price of 3-5 million rubles. Such products are quite liquid, especially considering that real estate prices will rise in proportion to the rising exchange rate.
Prepared by Ignat Bushukhin
The demand for residential real estate depends on a number of factors that need to be taken into account if you are wondering when is the best time to sell an apartment. Therefore, not only buyers are interested in the best time to purchase a home, but also sellers want to know when they can sell their property for its maximum value.
Let's analyze the relevance of selling residential real estate at different times of the year and try to find out what factors primarily influence the cost of an apartment.
If you believe the opinion of real estate market experts, profitable offers can always be found, and if the buyer is really interested in purchasing real estate, no, even the most significant factors, will affect his interest. But, nevertheless, impartial statistics indicate that the time of year greatly influences consumer demand.
The demand for housing reaches its greatest decline in January: at this time, the number of offers on the real estate market significantly exceeds the number of buyers wishing to purchase an apartment. Why is this happening? This situation is quite logical: a good half of January falls on holidays and weekends. At this time, people go on vacation to foreign countries, celebrate New Year and Christmas with their families, and simply relax and have fun. Banks are also closed - and since the lion's share of potential buyers use , they have to wait until the end of the weekend. Therefore, if you urgently need to sell an apartment in January, you will most likely have to make a significant discount on its price in order to attract at least any buyer. Hence the conclusion: it is extremely unprofitable to sell an apartment in January.
When is it better to sell an apartment - in spring or autumn? So, we excluded January as the least profitable time for selling a home. Definitely in the fall, because in May consumer demand also drops significantly. Most likely, this is due to the start of the summer holidays. Most of the potential buyers, according to statistics, are families with children who are concerned about other, more pressing problems in May: where to go on family vacation, how to prepare a child for the summer holidays, help cope with school and final exams, how to send your child to study in best higher education institution. So it’s unlikely that you’ll be able to sell your apartment profitably on the eve of summer.
When is it better to sell an apartment - in summer or autumn? If you look at statistical data and listen to the opinions of experts, then consumer demand for housing reaches its peak between August and September. It is at this time that the number of people wishing to buy an apartment significantly exceeds the number of offers on the real estate market, which leads to growth.
Thus, selling an apartment at this time is most profitable for the seller: you can increase the price and not be afraid that your apartment will “stagnate” while waiting for a buyer.
The increase in demand in August-September is due to the fact that city residents, having had a good rest during the holiday season, are in a hurry to purchase new housing in order to have time to equip it before the onset of cold weather. Parents are also trying to buy an apartment for their children who have moved to another city to study.
So, we have considered the answer to the question: when is it better to sell an apartment, we have also determined the most profitable season for the seller. Now let's talk about other ways to increase the cost of housing.
Regardless of whether you sell the apartment yourself or use the services of an intermediary - a real estate agency, it is worth thinking about some ways to put your home in order. For example, even minor financial investments in redecorating a home for sale can significantly increase the cost of an apartment and attract a larger number of buyers interested in purchasing your property.
Imagine that you are the buyer who wants to buy an apartment. With equal offers, which one will you choose - the apartment for which the documents are complete and ready, or the one that will have to “wait”, because the owners need to check out, obtain permission from the guardianship authorities, etc. Of course, a legally “ready” proposal looks more attractive.
So try:
If you want to find out how and when is the best time to sell an apartment in a new building, skip this section - most likely your home already looks quite attractive.
But sellers of secondary real estate should “spoil up” to add attractiveness to the apartment before showing it to potential buyers.
There is stagnation in the secondary housing market - prices are falling, demand is moving to the primary market. It seems like you should have sold your old apartment yesterday.
In this article, with the help of experts, we will try to analyze the situation and find the optimal solution. We will proceed from the fact that there is an alternative transaction model: the buyer sells an old apartment and uses the proceeds to purchase a new building.
Secondary Tricks
Before entering into a deal, it would be nice to get your bearings on the situation. More precisely, to find out what is happening with prices? If they fall, and the housing issue is urgent, there is no time to delay; if they rise, you can wait to sell at a higher price.
Today, even the most daring analysts do not predict price growth. Alexander Lunin, leading manager of the secondary housing department of the Azbuka Zhilya real estate agency, believes: in 2018, the Moscow market may lose 7-8% in price, the Moscow region market - 11-12%.
“If there is a need to sell an apartment now, there is no point in postponing the deal,” says Elena Mishchenko, head of the urban real estate department of the North-Eastern branch of the NDV-Real Estate company.
In 2017, up to 80% of investment apartments were sold for less than they were bought for.
An exception may be housing with a tenure of less than three years. According to the tax code, if an apartment was purchased after January 1, 2016, the seller must pay a personal income tax (NDFL) of 13%. This coefficient accounts for the difference between the budgets for buying and selling a home. And if the apartment was received as an inheritance or by gift, then the tax base (13%) is the sale price, from which a million rubles are deducted.
Chances of selling
According to Irina Pesic, managing director of the brokerage department of the Miel-network of real estate offices, apartments that are adequately priced from the beginning sell best. In a falling market, no buyer will consider a more expensive option, because he can find a cheaper offer at any time.
The second important point is the volume of supply in a particular area and in the city as a whole. If there are a lot of apartments for sale, this will increase the exposure period.
But repairs affect the liquidity and attractiveness of housing, but practically do not pay off in monetary terms. But transport accessibility and parking situation are very important.
One-room apartments have the best chance of selling. This is the most affordable and popular product. In 2017, demand for three-room apartments also increased due to an increase in the share of family buyers.
average duration of exposure of apartments in Moscow in 2018
One-room apartments - 72 days.
Two-room apartments - 75 days.
Three-room apartments - 79 days.
Multi-room apartments - 82 days.
Analytical center CIAN
Buy it now
As Olga Kuznetsova, deputy commercial director of Ingrad Group of Companies, told CIAN magazine, now is a good time to enter the housing market under construction, even if the deal is an alternative one. Having sold a one-room apartment on the secondary market, you can buy a two-room apartment in a new building, with an improved layout and in a prestigious area. The massive release of new buildings last year forced developers to fight for buyers; discounts on promotions reached 20%, or even 25%.
Falling prices and special programs from developers are also conducive to transactions. For example, clients of developers operating in Moscow and the Moscow region have access to a mortgage from Sberbank of Russia at 7.4% per annum in rubles. A lower rate can be obtained under the new program “Mortgage with state support for families with children.” It is only 6% (from January 1, 2018 to December 31, 2022).
Or maybe we should wait?
If you wait and conclude a deal with a new building after about a year, the result may be ambiguous.
The advantage is the release of new projects. The volume of supply in Moscow shows record after record. So, over the year it grew by 30%. And in the first quarter, according to the CIAN analytical center, 128 new buildings were built with a total selling area of 2.33 million square meters. m.
This expands the search and makes it possible to purchase housing on more favorable terms due to low stages of construction. However, if a new building at a high readiness stage attracts attention, then over time prices will only increase and supply will decrease.
At the same time, do not forget: in 2018, buyers had almost their last chance to purchase a new building at attractive prices. As CIAN wrote, which will strengthen control over developers. “Within several years, this will lead to an increase in the cost of new housing and a reduction in supply, since all developers will sell ready-made objects,” predicts Olga Tumaikina, commercial director of FSK Leader.
cyan expert conclusions
