The rapid development of infrastructure in the Russian Federation and the construction of modern housing make the purchase of real estate from a developer in Russia an excellent choice for living or investing, especially in large cities.
Advantages of buying real estate from a developer in Russia
Buying a new building in Russia provides a number of advantages:
- Modern construction technologies. New build homes in Russia are equipped with the latest generation engineering systems, which are not inferior to European analogues.
- Legal purity. Real estate under construction in Russia is a guarantee that there are no encumbrances on the site.
- Wide choice of layouts and locations. Russian developers offer apartments with well-thought-out layouts and the possibility of free redevelopment.
- Flexible purchase terms. Many developers provide installments, subsidized mortgages and discounts for certain categories of citizens.
- High investment potential. The cost of off-plan property in Russia increases as construction is completed, which makes buying at the foundation pit stage profitable.
How to choose real estate developers in Russia
Choosing a developer is one of the most important stages in the purchase process. To protect yourself and buy quality housing, follow these recommendations:
- Study the developer's reputation. Find reviews, learn about completed projects and their delivery dates.
- Check the documentation. The developer must have all the necessary construction permits, including the project declaration.
- Analyze the contract. Make sure that it clearly states the deadlines for the delivery of the object, the responsibilities of the parties and the final cost.
- Assess the transparency of the work. Reliable companies provide full information about the project, stages of construction and prices.
- Pay attention to the pace of construction. The dynamics of work is an important indicator of reliability.
Cost of housing in new buildings in Russia
The primary market offers housing of various classes, which allows you to choose an option for any budget. Average prices from Russian developers depend on the region, type of housing and stage of construction.
- Economy class. The cost varies from 70,000 to 100,000 ($695- $980) rubles per sq.m. Such apartments are most often located in the suburbs or actively developing areas.
- Comfort class. The price is 100,000-150,000 ($980-$1490) rubles per sq.m. Such new buildings are distinguished by more spacious layouts and developed infrastructure.
- Business and elite class. In cities with a population of over a million, you can buy housing from a developer in Russia at a price of 200,000 ($1960) rubles per 1 sq.m. In some cases, the price can exceed 500,000 ($4965) rubles per 1 sq.m.
Popular cities and regions of Russia for purchasing housing in a new building
The most popular cities for purchasing housing on the primary market remain the largest megacities and dynamically developing regions:
- Moscow. The main center of the country, where the cost of apartments starts from 200,000 ($1960) rubles per sq.m.
- St. Petersburg. Russia's second-largest city offers housing from 150,000 ($1,490) rubles per square meter.
- Sochi. The Black Sea resort is famous for its nature and sought-after housing for recreation and investment. The average price is from 120,000 ($1,190) rubles per square meter.
- Kazan. A city with a rich cultural heritage and rapid economic growth. Here, apartments cost from 100,000 ($980) rubles per square meter.
- Novosibirsk. The Siberian scientific and business center offers housing from 80,000 ($795) rubles per square meter.
Frequently Asked Questions on New Buildings in Russia
What documents do foreigners need to buy an apartment in a new building in Russia?
Foreigners must have a passport of their country and a copy certified by a notary. A document certifying legal residence in the Russian Federation (visa/visa) and the consent of the spouse (for married persons) are also required.
What is the procedure for buying an apartment in a new building from a developer in Russia?
At the initial stage, you need to select the property and, if necessary, pay a deposit. Then a contract is signed between the seller and the buyer at the notary. This is also where the cash settlement takes place. At the final stage, the buyer needs to formalize the ownership of the property in the Rosreestr.
In what Russian cities apartments are most often bought in new buildings?
Moscow and St. Petersburg are traditionally very popular. High demand for apartments in a skyscraper in Russia is also observed in Kazan and Krasnodar.
What is the average price per square meter in Russian residential buildings?
A square meter of new housing in Moscow and St. Petersburg is priced at 5,000-10,000 euros. In other cities, the average price per square meter is 1,500-3,000 euros.
