Secondary housing in Tatarstan rise in price more noticeably than new buildings

Price tag of a square metre in elite new building of Tatarstan reaches 200k

According to Tatarstan Statistics, in the fourth quarter of 2022, a square metre of housing in a new building cost an average of 134,2 thousand rubles. Compared to the previous three-month period, the price tag increased by 2,4%.

According to the average cost of the square metre in the primary real estate market of Tatarstan, it is the first in the Volga Federal District. The republic leads by a margin of almost 11 thousand rubles from the Nizhny Novgorod Oblast, which ranks second in the Volga Federal District. In Bashkiria, which rounds out the top 3 regions of the districts, the average price tag per square metre in a new building is by 20,4 thousand lower than in Tatarstan.

The cheapest square metre is sold in new buildings of Orenburg Oblast. It will cost an average of 61,631 rubles — for such an amount, it is possible to buy less than half a square metre in Tatarstan.

Basing on official statistics, Realnoe Vremya compiled a rating of the regions of the Volga Federal District on the average cost of a square metre of housing in new buildings in the IV quarter of 2022:

1. Tatarstan — 134,206 rubles;
2. Nizhny Novgorod Oblast — 123,222 rubles;
3. Bashkiria — 113,797 rubles;
4. Samara Oblast — 99,425 rubles;
5. Perm Krai — 97,833 rubles;
6. Penza Oblast — 87,234 rubles;
7. Ulyanovsk Oblast — 81,761 rubles;
8. Kirov Oblast — 80,170 rubles;
9. Udmurtia — 75,245 rubles;
10. Saratov Oblast — 75,047 rubles;
11. Chuvashia — 75,160 rubles;
12. Mordovia — 69,286 rubles;
13. Mari El — 62,474 rubles;
14. Orenburg Oblast — 61,631 rubles.

The higher the level of housing, the higher the price tag. For example, in Tatarstan, the cost of one square metre of medium-quality housing is estimated at 118,262 rubles, which is lower than the average price per square metre in new buildings as a whole.

The average cost of a square metre in an apartment with an improved layout in a new house is on average 145,547 rubles for Tatarstan residents. For comparison, in Saratov Oblast, one will have to spend 63,393 rubles, and in Mari El — 64,020 rubles.

For an elite square metre in a new building in Tatarstan, one will have to pay an average of 200,175 rubles. Such a price tag is not recorded in any of the regions of the Volga Federal District. In Samara Oblast, which is the second most expensive such residential real estate, it is 157,329 rubles. The cheapest luxury square metre is in a new house in Udmurtia — 71,692 rubles.

It should be noted that when calculating the average price on the housing market, along with Kazan and other cities, the territories of mass housing development outside the city limits are taken into account — Zelenodolsk, Pestrechinsky, Vysokogorsky and Laishevsky districts of Tatarstan. This method has been used since 2021.

A square metre of secondary housing has risen in price by 5,5%

A square meter in the secondary real estate market in Tatarstan in October-December 2022 rose in price more rapidly than in new buildings — compared to the third quarter, the average price tag increased by 5,5%. It amounted to 132,197 rubles, that is, by 2,000 cheaper than a square metre in new buildings.

As in the situation with new housing, Tatarstan is the leader among the 14 regions of the Volga Federal District in terms of the average price tag of a square metre of housing on the secondary market. Realnoe Vremya presents their rating:

• Tatarstan — 132,197 rubles;
• Nizhny Novgorod Oblast — 102,464 rubles;
• Bashkiria — 86,491 rubles;
• Chuvashia — 82,438 rubles;
• Perm Krai — 81,975 rubles;
• Samara Oblast — 74,690 rubles;
• Saratov Oblast — 68,196 rubles;
• Kirov Oblast — 68,067 rubles;
• Mordovia — 66,423 rubles;
• Udmurtia — 66,146 rubles;
• Ulyanovsk Oblast — 62,872 rubles;
• Penza Oblast — 61,357 rubles;
• Mari El — 59,835 rubles;
• Orenburg Oblast — 44,024 rubles.

As it can be seen from the rating, the top three leaders in terms of the average price tag in both the primary and secondary housing markets are unchanged — Tatarstan, Bashkiria, and Nizhny Novgorod Oblast. The regions of the Volga Federal District — Mari El and Orenburg Oblast — are also stable.

One can save a quarter of the money if one buy a secondary housing of poor quality. On average, a square metre of such real estate costs 98,938 rubles in Tatarstan. In neighbouring regions, it is even more profitable to buy it, for example, in Ulyanovsk Oblast, a square metre costs 39,200 rubles.

The situation in the secondary housing market in the segment of average quality, improved layout, as well as luxury apartments is interesting. The average price tag, according to official statistics, is higher than for similar housing in new buildings.

So, for example, if a square metre of average quality in the primary real estate market in Tatarstan costs an average of 118,262 rubles, then on the secondary market, it is by almost 4 thousand more expensive — 122,230 rubles. The republic is the only region of the Volga Federal District where the cost of such housing exceeds 100 thousand. In Chuvashia, for example, a square metre of average quality on the secondary market is estimated at about 78,5 thousand rubles.

The situation is similar in the secondary housing market of Tatarstan and with apartments of improved layout — a square metre costs an average of 148,568 rubles. This is 3 thousand more expensive than a square metre in a new building.

A sharp difference in the average cost of a square metre of housing can be traced in the elite residential real estate market. On the secondary market, it is more expensive by 35,9 thousand rubles, or by 18%, than in newly built houses — 236,103 rubles.