Developer PIK group on Monday, April 18, reported on the growth of property sales in the first quarter of 2016 compared with the first quarter of 2015 by 28.9% to 17.3 billion rubles Since the beginning of the year, the company sold 204 thousand square meters of real estate is by 85.5% more than in the same period last year. Such significant growth of sales is primarily due to the market launch of major new systems, explained the company representative.
Last week about its operating performance reported two other public developer — GC Etalon and LSR Group. The increase in sales was even higher. The total cost of the contracts for the sale of apartments and other premises “of LSR Group” has grown by 102%, to 21.1 billion rubles In the first quarter of this year the company sold 214 thousand square metres of real estate — 90% more than last year.
Sales under new contracts the group of companies “Etalon” in the first quarter of this year increased by 238%, to $ 12.9 bn In real terms the growth was 187%, to 135 thousand sq. m. the Main growth driver for the company’s General Director Anton Evdokimov calls the exit on the market of new Moscow projects “gold star” and “Summer garden”. The second factor of sales growth was preferential mortgages, effective 1 March 2015, says Evdokimov. In the beginning of last year mortgage rates were very high and sales many developers fell.
In the first quarter last year public developers really reported a drop in sales. After excessive demand in December, 2014 LSR Group has reduced sales in the first quarter of 2015 to 37%, to 14.3 billion rubles At the “Standard” they fell by 58% to RUB 3.8 billion, the PEAK revenue from real estate sales in the first quarter of 2015 remained practically at the level of the first quarter of 2014 to 13.3 billion rubles a Decrease in the volume of sales analysts explained the decrease in solvent demand of the population, high interest rates on mortgages, declining offers from companies and a sharp increase in demand at the end of 2014, when people saved ruble savings from devaluation by investing them in the purchase of apartments.
Sales growth public developers in the first quarter of 2016, largely due to the release of their new projects to the market in the second half of last year, says the analyst “VTB the Capital” Nikolay Kovalev. “These developers come out with successful new projects at attractive prices,” he says. Major developers are now in better situation than small market players, says BCS analyst Marat Ibragimov. “Despite the crisis, people there is a need for better housing, says he. But now consumers are careful in their choice of the developer. Major market players feel much better than a small company because people are afraid of bankruptcies in the market and try to buy an apartment from well-known companies.”
Another important factor of sales growth was preferential mortgage, admit analysts. “Last year the program of preferential mortgage earned only at the end of the first quarter, — says Kovalev. Up to this point, mortgage rates were exorbitant, in connection with the sale property developers fell. This year, consumers were afraid that the program of preferential mortgage will cancel, so many people tried to manage to close the deal to buy the apartments back in February”.
What with the prices
According to the analytical center of IRN, in February of this year, housing prices in the Metropolitan new buildings located on the site from the Third transport ring to MKAD, have fallen on average by 9.5% to 201,9 thousand rubles. per 1 sq m, compared to February 2015, as previously reported .