Housing sales in Krasnodar significantly decrease by around 53% during the initial half of the year.
Sales of apartments in new buildings have seen a significant drop in several Russian cities, including Krasnodar, according to recent reports.
Krasnodar, a millionaire city, saw a decrease of 52.9% in apartment sales in new buildings from last year. The city sold 7,300 apartments in new buildings from January to June of this year, compared to 115,500 apartments sold for the same period last year.
Krasnodar is not alone in this trend. Krasnoyarsk, Samara, Ufa, and Novosibirsk also experienced decreases in the sale of apartments in new buildings. Krasnoyarsk sold 2,100 fewer apartments in new buildings compared to last year, representing a decrease of 51%. Samara saw a 46.2% decrease, with 1,500 fewer apartments sold, while Ufa experienced a 43.1% decrease, with 3,800 fewer apartments sold. Novosibirsk saw a 40.9% decrease, with 4,700 fewer apartments sold.
The broader construction sector in Russia saw growth in individual residential buildings, increasing by 13% in 2024 compared to 2023. However, this growth mainly covers private houses rather than apartments.
The exact reasons for the decline in apartment sales in these cities are not specified in the search results, but issues such as fraud have been mentioned as potential factors impacting the property market in Krasnodar [3].
It's important to note that the available data does not provide comprehensive information on the precise year-on-year apartment sales changes and top declining cities. More targeted real estate market reports or official statistics would be required to obtain this information.
In conclusion, the sale of apartments in new buildings has decreased in several Russian cities, including Krasnodar, Krasnoyarsk, Samara, Ufa, and Novosibirsk. While the broader construction sector in Russia has seen growth, the decline in apartment sales in these cities may indicate a more specific issue within the property market.
Despite the growth in the broader construction sector, notable declines have been observed in the sale of apartments in new buildings within several Russian cities, such as Krasnodar, Krasnoyarsk, Samara, Ufa, and Novosibirsk. This trend suggests there might be a more intricate problem in the real-estate market pertaining specifically to apartment investing within these areas.
