Owners of mass-market apartments in Russia will face increasing difficulties when trying to sell their properties in the future, according to Anna Terekhova, the sales director of the development company Marmax.
Speaking to the news outlet News.ru, Terekhova warned that while many people currently purchase these standard apartments as investment properties, buyer preferences are definitively shifting toward higher quality residential complexes.
Standard mass-market housing has long been a staple of the Russian real estate market. These developments typically consist of large blocks of uniform apartments designed to provide affordable accommodation on a massive scale across major cities. However, consumer expectations have been steadily evolving, with modern buyers increasingly looking for more amenities and better infrastructure integrated directly into their living environments.
Changing buyer preferences
Terekhova noted that property buyers would increasingly choose higher quality developments that offer a specific set of lifestyle options. She said these preferences include the concept of a five-minute city, an urban planning model designed so that residents can access their daily necessities, such as shops and services, within a very short walk from their homes.
In addition to convenient urban locations, she said buyers are looking for integrated neighbourhood centres that feature shared facilities like gyms, coworking spaces, and dedicated playrooms for children.
Terekhova added that modern architectural designs, smart home systems, and high-quality landscaping around the residential buildings would also become essential factors in the choices made by future property buyers. Marmax, the company she represents, specialises in the construction of business and premium class residential complexes that often incorporate these modern features.
Despite the broader shift away from basic mass-market developments, she stated that the demand for smaller properties measuring between 37 and 55 square metres would continue to be a lasting trend in the market.
Impact of mortgage updates
The Russian government has actively shaped the country's housing market through state-backed lending initiatives. A key driver of demand has been the family mortgage program, which offers subsidised interest rates to eligible families with children to encourage the purchase of newly built properties.
Following recent updates to the specific conditions of this family mortgage program, an increase in overall demand for small apartments is expected across several Russian regions as buyers adjust to the new financial landscape.
