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In 2024, tenant and buyer preferences in the real estate market have shifted significantly due to economic factors, rising costs, and technological advancements.
Preference for Compact Housing: With rental costs rising, small studios and one-bedroom apartments are particularly popular among tenants. These options are more affordable, especially in major cities and resort areas like Sochi, where seasonal demand drives up rental prices. Good transportation infrastructure is also a priority as more people return to office work.
Challenges in Renting: Due to inflation and rising utility costs, rental properties have become less accessible, particularly for students and young families. Tenants are increasingly choosing outlying areas or compromising on amenities to reduce expenses.
Digitalization in Renting: More tenants are now using online platforms that simplify the rental process by facilitating remote lease agreements, virtual tours, and providing legal and technical support. This allows for quicker and safer rentals.
Rising Interest in Smart Technologies: Among buyers, smart homes that allow control over lighting, climate, and security through mobile apps are growing in popularity. These technologies are especially in demand for those looking to live in the property long-term rather than for investment purposes.
Decline in Demand for New Developments: With reduced availability of favorable mortgage programs and changes in credit conditions, demand for new builds has decreased. Many buyers are waiting, hoping for improved conditions and lower prices.
Interest in Suburban Real Estate: The trend for remote work continues to drive interest in suburban real estate, especially among buyers looking for long-term living options. However, renting suburban homes is still less financially viable compared to urban rentals
