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Wednesday, July 26, 2017

A new trend in the real estate market: shoot first — then buy

The realtors came up with new anti-crisis method of sale of housing. Because apartments might be the basis of several months or even a year or two, experts suggest that owners start to pass them potential buyers to rent. As a result, the customer gets used to the accommodation, location and neighbors — and eventually purchase real estate in the property.

Mostly, of course, we are talking about quite expensive apartments. The tenants kill two birds with one stone: test, is it a good apartment for a permanent residence, and in parallel find out the cost of housing in the same class.

photo: Gennady Cherkasov

The Chairman of the Board of Directors of Kalinka Group Ekaterina Rumyantseva says: from the beginning, the number of apartments sold and rented in parallel, increased by 30%. Sellers scheme “renting — selling”, apparently also beneficial. They get money for renting housing, and hope for a speedy sale.

Sellers of expensive apartments I think and analyze their costs and lost profits for the period of the exhibition and agree to temporarily take shelter in rent, — the Director of Department of rent of municipal property of the company Julia Kovalev. — Fresh quality supply at the right price without delay resonate with customers who are interested in the lease and monitor the market. The apartments from 600 thousand rubles per month.

The expert stresses that the contingent of such housing, as a rule, are wealthy families that can afford to keep a nanny, a maid and other staff. It is clear that the depreciation of the flats is minimal and not troublesome damage to expensive property. “Increasingly, there are cases where customers, for various reasons, removing an apartment, subsequently taking a decision on a purchase of housing, — says Yulia Kovaleva. — People get used to the apartment, settle in, they like a place, home, environment and neighbors. According to our estimates, every tenth apartment, which was on sale, and in parallel, leased, were purchased by these same tenants.

— Offer in the secondary elite real estate market exceeds the demand, — the Director of Department of elite real estate company “Metrium Groups” Ilya Mogunov. — The main problem — 80% of the apartments are outdated morally and now are of little interest to customers. The main demand is concentrated on 20% of total supply. Mostly it comes to recent new buildings — with a well thought out plan no “extra” square meters, with organized underground Parking, a modern concept, developed the template, and on an individual project. Practice shows that such proposals are in the minority. And they are in demand even in crisis.

Experts claim on the secondary market of elite real estate there was a shortage of liquid and offers a surplus of objects that represent mostly not the most interesting options. The average cost per square meter is $5,5–6 thousand. It is not surprising that in conditions of excess of supply over demand, some of the apartment waiting for future owners over the years.

— In our practice, too often there are cases when, before you buy a property, it’s rented, ” says the owner of real estate CENTUY 21 Elvert Collection Lyudmila Yakushina. — Of course, this is not due to lack of money, but luxury real estate is a serious investment. Renting allows you to conduct a test-drive of real estate, to integrate, to understand all the pros and cons, peculiarities of infrastructure, transport interchanges. Quite often there are cases when I give up the apartment without agreement on further sales, but in the end, the tenants literally fell in love with the apartment and bought it. On the real estate market now there is oversupply, but more often not the quality of the apartment. As a rule, are good options almost immediately find their owners.

— Based on the actual registered transactions, the average cost of elite apartments in the primary market in Moscow for the first quarter of 2016 dropped 5.3% to 281 thousand rubles per sq. m While in the secondary market registered an increase of 7% over the year to 334 thousand RUB (which is however lower than inflation), says the financial analyst of “FINAM” Timur Nigmatullin. — However, the difference in dynamics says about the differences in the classification of apartments of this segment. So, in parts of the old building is now almost built new housing. While there is relatively high demand among potential buyers.

The volume of proposals of apartments in the exclusive Central district is not so high. According to the Winner, it is about 10.1 percent — a 6-e a place among all the districts of Moscow. These are the prices in some districts: in the center — 448 850 rubles per sq. m, in the Northern district — 238 148 rubles, in West — 200 636 rubles. In other districts the value of the property below. The average cost of one-bedroom apartments in the Central district — 33,97 million rubles, two of 35.58 million roubles, three — room- 56,07 million rubles, multi-room — of 92.97 million.

In the mass segment too, there are examples where the owners are willing to rent housing to get at least some profit. However, it is a forced option. “Profit from rental housing is 4-6% per annum — say the economists. — Someone at the same time trying to rent an apartment to rent and conduct screenings. Typically, the tenant in this case can expect to save 30-50% of the rental cost.

— Such programs have already been considered by the developers, because in the period of economic stagnation of solvent demand significantly, ” says a leading marketer of “Relight-invest” Olga Markova. Sale with a subsequent purchase will allow customers, at least not to wait for a new home, and immediately enter the apartment, which is important for both comfort and economy, where many families acquire their first home. At the same time, such a program requires substantial investment. For rent rent a ready-furnished apartments, and the construction of most facilities is carried out by the participants of shared construction and borrowed funds, that is, the question is, whereby will be built homes if payments from customers will be received after entering the house in operation. Such a program can be entered at complex building and offer to rent ready apartment, not bought in the first phases of construction. But all-inclusive rent with option to buy on the market yet.

A similar scheme a few years ago, successfully operated in the West.

— Can you comment on the trend with our position: we are experts in luxury real estate in new York — says a representative of One&Only Realty in Russia Yulia Krylova. — It was in the period of the crisis of 2008, when investors were in no hurry and acted with maximum caution. Feed our developers are organized in rental offices, which offered customers to sign a 12 month lease. He meant the right of redemption at the expiry of the said period. Moreover, if the tenant made the decision during the first nine months, the rent paid, went to offset the first payment on the deal. If he had not had time to decide during this period, he had three months to decide, but the cost of rent in this case has not returned.

However, now in new York practically extinguished the demand for such proposals. And the sellers themselves abroad ceased to offer such a scheme. Perhaps because she has played it not on hand.

— In my practice there was such an example, — says Ilya Mogunov. — One of the owners of elite apartment lease it at a discount of 50%. Under the terms of the agreement, the lessee had to provide the apartment to show potential clients. As a result, when there was a buyer with serious intentions, the stumbling block was the fact that the apartment tenants had a cat. As it turned out, the client had a terrible Allergy to animal hair. As a result, he refused the deal, although the apartment he liked. So in the pursuit of profit the seller lost a customer.

The situation can be more curious. Few customers are willing to look at untidy clothes and scattered belongings of tenants. That first impression can be produced only once. And it is often spoiled because of the lack of pre-sale preparation, which is impossible in the presence of the tenants.

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