Quality Improvement Boosts Real Property Cost by 24 Per Cent

30/ 06

Today, the primary housing market in the Moscow Region is developing at a very high pace. Almost 70 per cent of new modern housing has been built beyond the Moscow Motor Ring Road. The reasons for such popularity have been discussed many times – proximity to the capital, attractive cost of housing, high-quality project designs and good transport accessibility. Besides, the more comfortable a flat and the environment surrounding it are, the more amenities they offer and the more convenient infrastructure is for users, the more attractive the flat is for the buyer and the higher the price it fetches. Construction of modern trading and entertainment centres, streets and buildings arousing architectural interest, prestigious schools, sports facilities and children’s institutions makes for higher cost of real property and growth in demand.

It is worth remembering, however, that certain factors diminish growth in demand, such as narrow halls, small windows, low ceilings and the absence of a garage. With them, even newly-built residential property can fall into the category of morally obsolescent housing.

Research carried out in the framework of a World Bank project shows that 77 per cent of those polled wish to change their living conditions due to poor housing amenities and badly developed surrounding areas.
According to Dmitry Vlasov, Commercial Director of the developing company RDI, “a project implemented at a high quality level can accelerate sales and raise the cost of the project by 24 per cent. For instance, in our Yuzhnoye Vidnoye residential community flats sell at a rate growing by 10 per cent every month thanks to the unique competitive advantage of the community.

“For example, when designing public space in Yuzhnoye Vidnoye, architects use bright colours and special geometry of lines capable of arousing sunny emotions throughout a year regardless of the weather and time of day. Enhanced-comfort business-class lifts, high-quality doors, improved children’s playgrounds and interesting architectural designs are details but they all give more weight to a project, add value to it and are important to buyers.”

This approach has helped not only boost sales in Yuzhnoye Vidnoye, but also raise the quality of the place. For instance, the sale of three-room flats has grown by 90 per cent and of one-room flats by 50 per cent.