Friday, March 29

What is happening with real estate prices in Kazan and why?

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During 2020-2021, we observed a rapid price race. On average, prices have increased by 33%, and for some objects – up to 50%. There are several reasons for such a frenzied growth.

The leading realtor of the Altera Academy of Sciences, an expert on complex transactions, a well-known blogger Evgenia Ripko.

In conditions of instability of other markets, real estate has become an attractive asset. Investors have entered the real estate market. At the same time, the Central Bank began to reduce the key rate, and profitable offers one after another poured in from the banks. Mortgages have become an attractive tool, and one by one buyers have flooded into banks. At the same time, the introduction of the escrow law made the cost of construction very expensive, and developers expectedly began to raise prices. It was the second powerful push. The third push happened by itself and without outside interference: the law of the crowd “everyone runs, and I run” worked. It is simply impossible to stay away when all the friends have already bought an apartment. Now the Central Bank’s rate has started to rise, and mortgages are losing attractiveness primarily for investors who are looking for ways to profitably attach money. Against the background of a shortage of supply, the price is in no hurry to fall, although the growth rate is decreasing. Most likely, new facilities continue to grow by inertia, and demand is declining, only those buyers who really need housing, and not an investment of money, remain. We don’t know what will happen next yet.

Buy or not?

The market is currently at or close to its peak. Whether there will be a decrease is unknown. But even if there is no significant growth, housing will still rise in price in the long run. I always say: you have to take it. If you have such a question, there is at least a bit of doubt about whether you can afford your own housing, you are worried about whether you will be able to get approval for a mortgage, be sure to come to a consultation. We have seen such cases in Alter when a person considers his situation absolutely hopeless, and at the consultation I am ready to offer a lot of options for purchase. Now you can take out a mortgage even without a down payment, and the rates, although they have risen, are still appetizing. Your maternity capital depreciates with every rise in prices. And a square meter of housing is also not getting cheaper, and with your accumulated money you will be able to afford less and less every day. Many do not even realize that an existing mortgage is not a hindrance in approving a new one. And if it is paid on time, then this is an absolute plus! But still, I recommend contacting the agency: our brokers always calculate every appeal to the bank. We know where and on what terms it is more profitable to get a mortgage for the housing you like, or we can suggest something that you haven’t even heard of. Take an apartment at the start of sales. Or you are suitable for some specific program, which you will hear about for the first time from us.

In which area to consider secondary housing?

In the one in which you see yourself! If you are looking for yourself, then see what will be important for you: a park next door or a good school two steps away, a place for a car or a bus stop under the windows. Sometimes people have been looking for suitable housing for months, and the most delicious option is right in front of their noses! If you choose with a realtor, you usually just voice your wishes and only then come to the viewings. But secondary real estate is always the risk of “running into” unscrupulous sellers. You can lose both money and housing overnight. This is my biggest fear. But in Alter, for example, a whole team of lawyers checks the whole background of the transaction, and each buyer of secondary housing receives a security certificate. If suddenly a buyer loses his home due to an oversight of a real estate agency, we buy him a new apartment.

How to choose a mortgage program?

There are many programs, there are different special conditions for different categories of citizens. Some are permanent, some are only in the format of a temporary action. There are subtleties here, and there are not even always apartments for programs. Or, for example, a mortgage in tranches: people rushed to buy these apartments as soon as they learned about this possibility, and sorted it out so quickly that not even everyone had enough. One developer ran out of apartments – another launched the campaign. Stocks are constantly changing, and the buyer does not have to track them at all. I think so: we do not buy an apartment every day, and this is such an expensive purchase that it is better to trust professionals in such a delicate matter. At the agency, we are always up to date with all the news on the real estate market first-hand. This is a reduced risk, this is assistance at every stage of the transaction. You won’t regret it – that’s for sure. I remember the fear and horror when buying our first apartment: nothing is clear, some money in packages, queues somewhere. Here, of course, my own character helped me. But not everyone is so lucky! I recommend everyone to think hundreds of times before such an important purchase and weigh everything: where and what legal difficulties guarantees, what subtleties there may be, how to protect your money and housing. We employ exceptionally great professionals, and consultation is always free. The offices are also conveniently located, it is only important to sign up. But sometimes it seems that the realtor’s help is not needed at all. For example, when you take a new building completely for cash, or buy an apartment from friends, but even here there are pitfalls. Will we figure it out?

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