SHORTAGE OF REAL ESTATE IS REPORTED IN SOCHI

New real estate objects appear in the market of the main resort of the Krasnodar Territory extremely slowly. Now only 200 thousand square meters are available for purchase, but in the next few months this number may slide down to 0.

According to Kommersant, due to a housing shortage, the prices in Sochi will soon be able to outstrip the Moscow prices - by July a square meter may cost 370,000 rubles. The fact is that the volume of primary real estate in Sochi is steadily declining - according to some sources, it is no longer even about 200 thousand, but t 95.5 thousand square meters.

According to experts, the situation was caused by the introduction of preferential mortgages at 6.5% - demand began to outstrip supply.

Despite the fact that in April 2021, there were14,500 square meters of new housing (although only 9,700 sq. m were commissioned in the previous 3 months), real estate available for purchase is running out. It is expected that by July, the supply may drop to almost zero.

Now the average cost of real estate in Sochi has reached 333,000 rubles per square meter.

Experts believe that demand may go down if other countries become available to Russians - citizens will begin to consider real estate in Turkey. In addition, the demand for domestic tourism will go down as well.

It is worth noting that some areas of Sochi are already catching up in cost to the business class of Moscow. For example, the price of real estate in the village of Sirius in the Imereti area reaches 700 thousand rubles per square meter.