Experts Told Who Buy Elite Flats in Novosibirsk

Russian realtors have studied the picture of demand for luxury flats among residents of Novosibirsk. They found out that most of the expensive housing is acquired by married men through a mortgage agreement, and the average payment on loans for housing over 9 million rubles exceeds 110,000 rubles, reports.  

Picture: Interior Design Website

It is specified that the study concerned only citizens living in urban areas, aged from 27 to 65 years. Among the buyers, 78 per cent are men, 83 per cent of whom are married, according to the Central Real Estate Agency (the analyzed period is from July 2017 to July 2020). It is noted that 41 per cent of wealthy Novosibirsk residents take expensive flats on a mortgage, 37 per cent for cash, 9 per cent in a trade-in, and 13 per cent exchanged an old flat for a new one with a surcharge, attracting additional funds through credit or cash.

It is also clarified that flats with a cost per square metre above 120,000 rubles are usually called expensive or elite housing from realtors in Novosibirsk. As a rule, these are apartments in conceptual business class complexes. The share of buyers who can afford expensive real estate usually does not exceed 8 per cent, as the average salary in the Novosibirsk region in 2020 is 42,000 rubles.

Ru-Main, 26.09.2020 

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