Review of the Crimean real estate market in March 2015

07.05.2015 00:45
Real Estate Market Analysis | Review of the Crimean real estate market in March 2015 In March 2015 the activity of the real estate market of the Crimea was small, the volume of supply has increased, real estate prices fell by 3% in the Crimea.  Property prices in the Crimea
According to the trading system REM Navigator, property prices in the Crimea decreased by 3% in March 2015 (in USD). In the secondary market in Simferopol average real estate prices at the end of the month were:

1-bedroom apartments - 1363 USD / sq.
2-bedroom apartments - 1348 USD / sq.
3-bedroom apartments - 952 USD / sq.m.
house - 1250 USD / sq.

In March 2015 real estate prices continued to decline in the Crimea. Although the calendar beginning of the spring season, the growth of buyers' activity was not observed. On the state of the market real estate of Crimea affect negative expectations related to the deterioration of the Russian economy. Developments on the scenario of full-scale financial and economic crisis will lead to a sharp reduction in monetary liquidity, curtail lending programs and defaults on previous loans, fall in demand, the rise of the problems in the financial and real sector. All this might have on the real estate market adversely affected.

Offer real estate market of the Crimea
The volume of supply in the market of real estate of Crimea has increased to the level of 5847 points (+ 16%).

Demand for real estate in Crimea
Purchasing activity in the market of real estate of Crimea fell sharply. The lowest demand in the Crimea, used 3-bedroom apartments, city and country houses.

Advice to sellers and buyers of real estate in Crimea

Sellers should take into account that the spring sales season is not specified, and the prospects of the Crimean real estate market is not encouraging. In such a situation should either produce a significant reduction in proactive for apartments in Crimea prices or withdraw property from sale.

Consumers should benefit from the opportunities that have arisen due to lower prices. But do not forget that a quality property at a low price in the market do not lie.

High demand for the purchase of residential properties, which began in 2014, after the Crimea to the Russian Federation, this year will gradually decrease. In addition to the general decrease in demand for real estate in the Crimea, which is influenced by the financial crisis and falling real incomes of the population on the mood of potential buyers from the mainland is influenced by such factors as the current Crimean news of disruptions to energy supply of the peninsula, which are associated with damage to power lines on the territory of Ukraine, general condition of the Crimean infrastructure owners and too inflated prices for them exhibited for sale properties. Nevertheless, it should be noted that people who have purchased real estate in Crimea last year, it has paid off - the cost of most objects has increased in proportion to the dollar.

In 2014, approximately 45% was for residential real estate in the Crimea, the rise in prices, but this year there was a slight pullback and the average cost of housing has decreased by 15%. The total number of properties put up for sale for 2015 has not changed - is now exposed to about five thousand residential properties.

With regard to the current prices, the average price for one-bedroom apartments in the Crimea is 82 680 rubles per 1 square meter, 2-bedroom apartments - 78 585 rubles per 1 square meter, 3-bedroom apartments - 63 960 rubles per 1 sq. m, in the homes -. 78000 rubles per 1 sq.m. At the same time, this price is strongly influenced by the location of the real estate, such as the cost of an apartment house in the province of Crimea may be 10 thousand rubles per 1 square meter, while the price for a similar home with similar characteristics in Yalta and Sevastopol may already be 100 thous. rubles per 1 square meter.

The most expensive is to live by the sea, where prices have range from 150 thousand. 600 thousand. Rub. per sq. m. The cost of country houses along the coastal strip ranging from 130,000 to 750,000 US dollars. The cost of some houses overvalued - sellers who are still out of habit forming the price of his property in US dollars, for the most part not counted the price after the fall of the ruble, however, many of the same vendors willingly traded and can significantly reduce the price in the process of negotiations.

On the housing under construction in the primary market in the Crimea demand remains stable, this is due to the fact that you can buy a home for less at the stage of excavation (50-60 ths. Rub. Per 1 sq. M), with the same finish such housing would cost the new the house is already 100-150 thousand. rubles per 1 sq.m. Resale - is mostly housing in old houses built after the purchase is necessary to carry out serious work on the property putting in order, until the overhaul and replacement of communications. It is understood that the new buildings of the Crimea no such problems, so they buy more willingly. It is also a favorable factor is the fact that many of the developers of the Crimea, who erected new homes offer buyers installments.

In Crimea, practically does not work mortgage lending and this factor also contributes to the demand for real estate. at the expense of the parent capital, etc. Not implemented in the Crimea in full various government subsidy programs for the purchase of housing for young families, military personnel,
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