Development market 16 lectures
The Russian development market has entered a new phase: the model in which the city apartment was the main and almost uncontested product for the investor has weakened; preferential mortgages are no longer driving demand as they used to be. Market mortgages remain expensive.
Development market 16 lectures
The Altai Republic is not just a beautiful tourist region, but for the developer and the investor, the most important thing is that Altai is in the process of forming a new resort real estate market, and you can also create value here not only through the construction of hotels.
Development market 16 lectures
The city apartment has long been the main private investment asset in Russia, and the logic was clear: buy an apartment, rent it out, save capital, wait for the price to rise, but after the completion of the massive preferential mortgage, the increase in the cost of housing, increased the cost of housing.
Development market 16 lectures
In urban development, land is more often perceived as a site for construction. In resort development, land works differently, where the site becomes an asset not only because of the area, cadastral number and type, but because of the future scenario: what is on this land?
Development market 16 lectures
Buying a unit in an aparthotel is a model of ownership of a particular property: an investor buys a room, an apartment or a house, transfers it to the management company and receives income from exploitation, but in this model, the investor does not usually manage the hotel business.
Development market 16 lectures
An investor who wants to enter a resort project can participate in it in different ways, and the most understandable model is to buy a unit: an apartment hotel, a studio, a modular house, a cottage or a glamping house, in which case the investor owns a particular object and transfers it.
Development market 16 lectures
Glamping in Altai can't be seen as just a few beautiful houses in the forest. For resort development, it's a stronger tool. Glampings can become a network of natural points throughout the Altai Republic, connected to resort towns, medical centers, and other areas of the world.
Development market 16 lectures
A large resort cluster cannot be created by a single participant; a landowner can have a territory, but does not have to be a hotel operator; a developer can build, but does not always know how to manage the tourist flow; a management company can manage the tourist flow.
Development market 16 lectures
For many developers, urban real estate has ceased to be a fast working asset: apartments are built or under construction, project financing is expensive, sales are slower, preferential mortgages no longer support the market on the same scale, and the volume of unsold goods is not available.
Development market 16 lectures
The classic city grew around work, factories, offices, commerce, education, medicine, banking, logistics and administrative functions drew people to the big centers, so the city apartment has been a major investment product for decades: a person who has been a part of the city's economy.
The Russian development market has entered a phase where the old sales mechanics no longer work automatically. The city apartment remains a clear product, but expensive mortgages, cautious buyers, accumulation of unsold housing and increased competition force the developer to look for new formats and new growth territories.
