“Assessment inadequate”: Most expensive Kazan studio apartment on sale for 36.2 million rubles

Two dressing rooms, a living room and kitchen area separated by a wall, and a “nook” for a home office

The cost of the most expensive studio apartment in Kazan currently stands at 36.2 million rubles. The property in question has an area of 62.5 square meters and is located on Meridiannaya Street in the Novo-Savinovsky district of the city, according to listings published on one of the real estate platforms.

According to the description and photos, the apartment is on the 7th floor of a 12-story building. It features two dressing rooms, a living room and kitchen area separated by a wall, and a “nook” for a home office.

Additionally, the building itself has underground parking, and entry to the studio itself is via fingerprint scan. Furthermore, there is video surveillance in the entrance hall.

It should be noted that the cost per “square meter” in this studio is 579,200 rubles. Moreover, if such an apartment is taken with a mortgage, the minimum monthly loan payment would be 369,700 rubles. This calculation is provided by one of the banks at an interest rate of 16.9% and with a down payment of 10.8 million rubles.

However, this is not the limit — for example, in Moscow, the most expensive studio costs 147.9 million rubles. The 46 sq. m apartment is located in a premium-class residential complex on New Arbat. The studio is on the 11th floor and is offered without finishing.

“The cost per square meter in Kazan’s business-class residential complexes ranges from 350,000 to 400,000 rubles”

Demand for such studios is low. Moreover, the stated price tag for this apartment is inflated. Kazan realtor Alexei Lysachev shared this opinion with a correspondent from Realnoe Vremya.

— Currently, the cost per square meter in Kazan's business-class residential complexes ranges from 350,000 to 400,000 rubles. In my opinion, the stated valuation of the apartment (for the property described above — ed. note) is inflated, inadequate, — the realtor told the publication.

He noted that many different factors are taken into account when assessing the value of an apartment. In this matter, one needs to use analytics, namely, to compare the price at which properties with a similar level of comfort and equal user characteristics — quality of service, for example, the presence of a concierge, the quality of common areas, and so on — are being sold.

— Only after that will sellers assess the cost per square meter and the level of interest in this property, rather than simply selling the studio for a large sum hoping it will be bought. Although, of course, such a studio could also be bought; anything can happen in life, — the expert concluded.