Country market: after the crisis more pluses or minuses?

28.02.2011 17:35
Real Estate Market Analysis | Country market: after the crisis more pluses or minuses? According to the analytical center "Indicators of Real Estate Market Over the past two years, a country market near Moscow has undergone major changes.

Firstly, at times increased segment plots without a contract. Secondly, a substantial proportion of objects that come up for sale after the crisis, are located away from the city worse provided services and infrastructure. However, housing in new settlements is much cheaper than in those facilities, construction of which began before the crisis: 10 million rubles.compared to 30 million rubles. respectively.

According to experts www.irn.ru, new trends in the suburban market, help to create range of housing, targeted at different groups of customers. And this is a positive development, despite the fact that new projects often lose out on their qualitative characteristics of villages, implementation of which began before the crisis.

Country market suburbs began as an elite segment of the housing market of Moscow region: its development began with the traditionally prestigious areas and near suburbs. As the suburban market began to appear economical cottage housing, but the lion's share of construction accounted for the segment of the business class. That is why about 72% of cottage communities, implementation of which began before the crisis, are located in traditionally prestigious areas in the 30-kilometer zone from Moscow.

The crisis has accelerated the trend of economic housing on a suburban market. As a result, significantly increased the number of organized villages with plots without a contract, as well as the share of cottage townships, located on the less prestigious areas and away from the city. The following two charts illustrate the shift of-town market of organized settlements in the less prestigious side of the highway and the 30-th km from Moscow. According to market research for the IV quarter of 2010, the proportion of households in new residential estates and villages without a contract with the sites located in the less prestigious areas, is about 50%, and 30 th km of Moscow - for more than 75%.

Increasing the share of organized settlements in areas without a contract due to both the increasing number of facilities that provided only the land without a contract, and the increasing number of suburban towns with mixed concept (including cottages / sites with contract and lands without a contract). For comparison: before the crisis, the share of cottage townships, which offers plots without a contract, was about 12% of the market. Deteriorating economic conditions, tighter credit conditions and lower consumer demand have contributed to the revision of concepts of their developers settlements.

Therefore, in most of the new cottage villages, which entered the market in post-crisis period, in addition to houses and plots with contract offers plots without a contract, and in the villages, implementation of which began before the crisis, developers often had to abandon the construction of houses in favor of plots without a contract. As a result, the number of organized villages with plots without a contract equal to the number of cottage settlements, and the number of households settlements with areas without a contract, even ahead of cottage settlements. Proportion of villages with mixed concept also has grown substantially and at the end of 2010 was about 44% of supply of suburban housing.

According to experts www.irn.ru, change and qualitative characteristics of organized villages near Moscow. Significantly decreased the proportion of settlements, where the form of permitted land use - individual housing construction.

If before such settlements occupy more than half of the market, among the new projects received for the implementation of the post-crisis period, the share of villages with land for private habitation is less than 30% (as in a segment of cottage communities, and in a segment of the organized townships in areas without a contract). And settlements with the type of permitted use of land "under the country house construction" occupy nearly 70% of the primary suburban housing.

Analytical center "Indicators of the real estate market is focused on a segment of organized suburban settlements with electricity and gas. Impact of the crisis on the state of a country market in terms of settlements communications can be understood by analyzing the change in the proportion of objects with a central water supply and sanitation.

If among the cottage communities, implementation of which began before the crisis, 95% of the cases provided for central water supply, and only 5% of the objects were assumed to individual wells at each site, the new settlements, leaving the market in the post-crisis period, the proportion of objects with individual wells increased 3,5 times (up to 18%). Proportion of towns with lots without a contract, where there is no central water system is 24% of the market.

Significantly increased and the proportion of suburban sites, where instead of a central sewage system at each site assumed a septic tank. In the pre-crisis period, it stood at 27%, and in new settlements had increased to 51%. Proportion of sites with the sites without a contract, where no central sewage system, is almost 48%.

Changes in the structure of proposals to ensure settlements infrastructure even more important. In 62% of facilities, implementation of which began before the crisis, the developers sought to create a wide range of infrastructure. This was due to increasing competition as the market develops and the desire of builders to upgrade the settlement.

In objects which entered the market in post-crisis period, a set of infrastructure, in contrast, is limited: 79% of cottage housing in new projects has its own infrastructure or provide a minimum amount of infrastructure. Proportion of towns with lots without a contract, where the infrastructure is not present or is minimal, equal to 80% of the market.

Housing estates, the implementation of which began before the crisis, ahead of new projects on the size of households: a difference in the area of houses is about 100 square meters and a land area - about five hundred square meters.

Differences in the properties of suburban housing placed on the market before the crisis and post-crisis period, will inevitably impact on the price differences. The average cost of houses in cottage settlements, the implementation of which began before the crisis to date is about 30 million rubles. And the new cottage villages - about 10 million rubles. or three times smaller. In addition to differences in the properties of housing such a difference is due to more and more high-readiness settlements, construction of which began before the crisis.

In some villages to the ground without a contract the average cost of land is about 4 million rubles. In order to compare the price level in the villages to the ground without a contract and cottage settlements, should be added to the value of the land price of building a house. Now the average cost of the contract, according to research analytical center "Indicators of Real Estate Market is 24 150 rubles. per meter. Hence, building a house, whose area is comparable to the area of family houses in new settlements, costs about 5.4 million rubles. Thus, the average price for a house with land in settlements with plots without a contract is 9.5 million rubles. Ie approximately the same as in the new cottage villages, and three times cheaper than in towns, the implementation of which began before the crisis.

Summing up


Country market has changed significantly after the crisis: and sentence structure, and qualitative characteristics, and the price level. New projects are very different from those that are beginning to master before the crisis. They lose much of its quality characteristics, but much more attractive in terms of price.

According to the analytical center "Indicators of the real estate market, given changes in the country market make it more diverse, create a range of housing, targeted at different groups of customers, that is certainly a positive development. Appearance on the market less inspirational and more affordable project improves its liquidity and makes it more resistant to changes in economic conditions.

It should be noted that at the town market of Moscow region there is still a large selection of high-class towns in the upper price segment. And, as predicted by www.irn.ru, this segment will not stop development in the future. But at the same time will strengthen the position of the segment of affordable suburban housing, received a powerful impetus to development in post-crisis period.

Full review the outcome of the round table - see "Country Market:" pain points ". Full versions of presentations of all speakers at the roundtable "Pain points of country market: how to turn disadvantages into advantages" can be viewed on www.irn.ru.

More information about the current trends of the market-town suburbs, recommendations for optimal use of land, development of concepts for development and implementation of country settlements provide analytical center "Indicators of Real Estate Market in the consulting services.

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