Sochi residents and tens of thousands of Russians who have bought real estate there, woke up millionaires

Sochi residents and tens of thousands of Russians who have bought real estate there, woke up millionaires

“Change in Sochi on the two-three-room in Moscow with your surcharge.” These ads are not possible in the near future, will fill the pages of newspapers. After all, real estate prices in Sochi now sharply crawl up and catch up with Moscow, according to Realty

On the night of 4 to 5 July Sochi became the capital of the Winter Olympics in 2014. The city, which has already invested billions of dollars in anticipation of the Games, shortly “burst” of investment that will flow into it after the International Olympic Committee (IOC) announced that the Russian resort city of Olympic.

In Sochi and the surrounding areas are now home to about 400,000 people, but in the last 5 years to buy real estate there are also visitors: residents of Moscow and St. Petersburg, Siberia and the Far East, the oil-and gas-producing regions. That they raised the price per square meter in Sochi to unprecedented heights. In just 5 years, the average price has increased more than 10 times.

As reported local realtors, in 2002, for example, one-bedroom apartment of about 60 square meters in the center of Sochi cost about 15 thousand dollars. Today it is already 180 thousand dollars and 4000 dollars per square meter, nobody will be surprised.

And at the Krasnaya Polyana ski resort 45-meter one-bedroom apartment in a block of 5-storey house then cost no more than 6000 dollars. Today, the apartment costs 90 thousand dollars.

According to realtors, its just the beginning. Owners of property in Sochi has long hoped for such an outcome Olympic race. And tonight, thousands of Sochi and the Russians have bought property there, woke up with the feeling that they have become millionaires.

And its not far from the truth. Investment in the development of the city has now been reached fantastic sums – tens of billions of dollars. Adopted by the federal program provides for the development of 327 billion rubles. In addition, provide a huge amount of private investment.

This city is called the “summer capital of Russia”, and because of the upcoming Olympics Sochi will soon have to call and “the winter capital of Russia”, will be the latest sports facilities and many hotels, built hundreds of kilometers of new roads, change transport and energy infrastructure.

As for the property, there is growing: the volume of construction, consumer demand, the price per square meter on the ground. For example, real estate prices in Gelendzhik, Tuapse and Sochi inferior.

The growth rate of prices for apartments in Sochi long before Moscow, although the cost per square meter of luxury housing on the coast still far below the highest price per square meter in a new building in Sochi on the Black Sea coast is less than 10 thousand dollars in Moscow elite meter costs several times more.

But it is not yet. Given that due to high demand, housing prices in Sochi are growing at 30-40% per year, by the time the Olympics prices in Moscow and Sochi can match.

At the moment, the price per square meter in the luxury residential complex in Sochi, on average less than 6000 dollars. Flat business class going for 2500-3500 dollars, economy class – about $ 2,000 per square meter. The cost of parking spaces on the average of 25-30 thousand.

What is interesting, the secondary housing market in the prices is not inferior to a new building.

Cost per square meter in Sochi defined geographical position at home (away from the central Sochi), infrastructure area, the proximity to the sea and the number of the resort, which is a house (the first zone – the closest to the sea). But in some places it has its disadvantages: the first part of the zone crossed by the railroad, which runs along the sea. There are areas where the road goes deep into the city for a couple of kilometers. It is here (in the first zone – up to 1 km from the sea) is the most expensive, elite real estate. And the price of the apartment with a sea view is similar to the above views of the city or the mountains about 15%.

It should be noted that while in Sochi at a price you can buy luxury apartments and a villa area several times larger apartment, but land area is small – weaving in the city is already much more hundreds at Moscow ruble.

Actively engaged in construction in Sochi from Moscow, St. Petersburg and Rostov construction companies. They build apartment complexes “Lighthouse of Alexandria”, “New Alexandria”, “Royal Park”, a complex of Pushkin Avenue, a residential complex “Premier” complex “New Riviera”.

However, the rush to the acquisition of real estate in Sochi is not worth it. Owners of the now “Olympic” square meters going this summer to force prices up. Experts expect that in the winter of 2008, prices stabilized a bit, a little Olympic fever subsides. But the cost per square meter in Sochi will continue to grow, though it has no jumps.