At the town market has shifted the factor of seasonality

29.12.2010 00:05
Articles about real estate | At the town market has shifted the factor of seasonality The main trend at the town market in November and early December Steels lowered demand. In order to stimulate buying activity in anticipation of New Year's developers announced discounts and bonuses. According to Vesco Consulting, the average discount of 7-10%. Nevertheless, the unpredictable decline in demand continues.

In November, sales were conducted in 477 cottage settlements, which is 6,7% more compared to the same period of 2009 - 445 villages. Volume of new supply was low. Sales were opened in 4 villages. For comparison, in October, was announced out of 15 new projects, 10 of which focused on New Riga.

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"After the crisis, seasonal factor has shifted and has a new character. At the suburban real estate market there is no understanding the reasons why the customer demand, as external news background is now positive - the currency market is stable, oil prices are also showing robust performance, banks reduce mortgage rates. One can only assume that the initial wave of buying after the crisis was resolved, while the second had not yet formed. There is a lack of effective demand - lack of buyers, who managed to earn a post-crisis ", - said commercial director of Vesco Group Konstantin Romanov.

Further growth of suburban real estate market can be expected no earlier than mid-February, in connection with the New Year holidays and vacation season.

As of November 30, in the primary market, the average cost of the "square" suburban property accounted for economy class - $ 1572 for business class - $ 3,014 for the elite class of $ 4,821. Average cost of land weave without a contract - $ 7,863.
Content tags: Residential Real Estate
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