Many buyers of residential apartments in Novo-Molokovo are “yuppies”. According to RDI analysts, their share in the Novo-Molokovo housing project is about 25%. "Yuppie” (“young urban professional”) is a new word in Russia, though it has been in use in the United States since the early 1980s. "Yuppie” means a well-paid young professional concentrating on his career.
Buyers of residential space in Novo-Molokovo are about 30 to 35 years of age, on average. About 60% of them have no children as yet. At the time of the apartment purchase, they lived in rented apartments or with their relatives.
"The main distinction of the "yuppie" category of buyers is that it is represented by unmarried people, mostly men. "These young professionals have at least one higher-education diploma, their personal income amounts to 40 to 80 thousand rubles, and most of them are employed by for-profit organizations," - says Alexander Mazurik, RDI Deputy Commercial Director.
Yuppies are not inclined to make spontaneous buying decisions. It usually takes them about three months to select an apartment. And they consider at least three alternative projects before making their buying decision. The purchase budget is of key importance for this category of buyers because yuppies do not waste money.
The average purchase budget is 3.1 million. Its shows that yuppies buy apartments bought for living in them, rather than for some other future purposes. This hypothesis is also confirmed by the fact that the apartments bought are usually their first transactions on the market for residential housing.
"Though families with preschool and school children account for more than 60% of the buyers of residential space in Novo-Molokovo, the project’s unique characteristics, transport accessibility, its value for money and social infrastructure attract many other categories of buyers, such as yuppies and active pensioners,” – says Alexander Mazurik.
Each forth Novo-Molokovo resident is yuppies