Rising housing prices persist in Omsk, with both new and second-hand buildings experiencing increased costs.
In the city of Omsk, there's a boom in housing prices - and it's not just the new constructions that are skyrocketing. New builds have seen an increase of 1.6%, averaging at 155,403 rubles per square meter. But it's the secondary housing market that's grabbing the attention of buyers due to a more attractive final cost and immediate occupancy.
Experts have noticed this trend, with many opting for properties on the secondary market. Why? Because the secondary market offers a lower cost compared to new builds, despite the increase of 1.1%. The key issue with new builds lies in the limited number of new objects being made available, which has resulted in a supply shortage.
Interestingly, the secondary housing market is starting to attract buyers because of the increasing rental yields, altering the usual structure of demand. However, more factors are at play here. For instance, the cancellation of preferential mortgage programs in many Russian cities might be limiting financing options for new construction purchases, pushing buyers towards the secondary market where prices and financing conditions might be more favorable.
Additionally, the broader economic and geopolitical situation, including sanctions and shifts in business operations due to the conflict and changing international relations, may impact new developments and investment in new builds indirectly. It's all these factors that could be making existing housing stock a safer or more accessible option for buyers in Omsk. So, if you're planning to move to Omsk, the secondary housing market might be worth considering, as it offers a more balanced price increase compared to new builds.
- What about investing in the secondary housing market in Omsk, given that it offers a lower cost compared to new builds, despite a 1.1% increase, and where financing conditions might be more favorable due to the cancellation of preferential mortgage programs?
- As the secondary housing market starts to attract buyers due to increasing rental yields, altering the usual structure of demand, and a more balanced price increase compared to new builds in the city of Omsk, what might be a suitable option for potential buyers who are also grappling with limited financing options for new construction purchases?
