When to buy an apartment?
Seasonality affects many areas of activity. There is no exception here and the real estate industry. In the article we will look at how the demand for real estate changes throughout the year so that you can decide when to buy an apartment, that is, at what time it can be done on the most favorable terms. In addition, we will give you some other tips on acquiring real estate.
When is it better to buy an apartment
As you know, any market activity is subject to certain cycles. As for the housing market, here the situation is as follows. At the very beginning of the New Year, the activity in the housing market stops, and prices stabilize - more precisely, they remain steadily high. This is because people long enough "stir up" after the New Year holidays. Then, in the spring the number of proposals grows. Prices are gradually falling, but not too much. The situation will stabilize by mid-March and, with minor changes, remains so until about mid-May.This is the time when the price of real estate elite class. The fact is that people usually try to complete such deals before the May holidays, and then go on holiday. Thus, the spring period is more favorable for the sale of real estate than for its purchase. And only after the May holidays, when the demand for real estate traditionally falls, experienced players enter the market, because due to a sharp seasonal decline in demand, sellers quite significantly remove housing prices. As for luxury real estate, this situation will last in this market until mid-autumn, after which prices due to increased demand will jump sharply again. In general, the demand for real estate business class usually increases before the holidays, so November-December, as well as February-March-April and early May, buyers should wait.
When to buy an apartment of economy class
In this segment of the real estate market, the situation is somewhat different, although somewhat similar. Demand for low-cost apartments appears at the end of February, and the price boom is observed here almost until the beginning of June, after which prices usually fall, but not as long as in the segment of elite housing.Those who wish to buy low-cost housing should not pull with a purchase until the autumn, because, starting in September, prices will rise again, reaching its maximum by mid-autumn and holding their positions until the New Year holidays. By the way, the spring price increase here is influenced not only and not so much by the holidays, as by the fact that since June the time for vacations begins and the activity freezes. That is why in the summer and you can find the most profitable offers. In addition, many are eager to buy an apartment in the spring, in order to make repairs in the summer. But if you are looking for really profitable options, study the summer offers, and also look at the prices immediately after the New Year celebrations, when the movement in the real estate market is still rather sluggish and there is little demand. Thus, the main time, when it is more profitable to buy an apartment, is traditionally the summer period - especially the end of summer.
Time and place
Of course, for a bargain purchase of real estate, knowledge of the “trends” (the time of steady increase and decrease in prices) is indispensable. You need to pay attention to where you get an apartment.However, if you are interested in a specific area, you can only focus on the season, but if you are interested in saving money, then you should listen. For a bargain buying, pay attention to areas that are not very prestigious - and that’s how. Study the development plans of the area, try to imagine what it will be in 10-15 years. Call it a profitable investment. Here is one example from history. Recall how at the end of the 80s St. Petersburg (then Leningrad) newspapers literally were full of announcements about the exchange with a categorical note: “Do not offer Rzhevka-Powder”! Just imagine how rich were the people who still ventured to buy an apartment there at the dawn of Russian “capitalism”. And the reasons for the rise in prices are simple: proximity to the center reinforced the good transport links of the area, pretty soon the subway should appear there, in the area there is where to walk, breathe fresh air (by the standards of residents of central regions), etc. Therefore, take a look at your real estate market - perhaps right now you can make a profitable investment for the future, or at least just buy an apartment.
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