The key facts

  • A new build and a resale apartment should be compared by total costs, not by the listing price
  • Two years of waiting with rent of 50,000 rubles a month add 1.2 million rubles in expenses
  • With a subsidized mortgage the advantage may go to the new build, with a market-rate mortgage — to the ready apartment

The key is total costs, not the listing price

When choosing between a new-build apartment and a resale one, one should be guided by the total amount of upcoming expenses, not just the price in the listing. This was stated by Yuri Shchedko, Doctor of Economics and professor at the Financial University under the Government of the Russian Federation, in an interview with Gazeta.Ru.

How the type of mortgage decides the choice

According to Shchedko, in 2027 the decisive factors will remain the availability of subsidized mortgages, the cost of credit and the move-in timeline. If a buyer is eligible for a subsidized program, a lower rate may offset part of the price difference, but the terms must be checked for the specific family and property. With a market-rate mortgage, the advantage may go to a cheaper ready apartment: it allows moving in sooner and shortening the period of paying both the loan and rent at the same time.

Hidden costs and checking the property

The economist gave a calculation: two years of waiting with rent of 50,000 rubles a month adds 1.2 million rubles to expenses. Separately, he warned, one should budget for finishing work, insurance and transaction fees. A new build is justified when the sum of the price premium, renovation costs and rent for the waiting period is less than the difference in mortgage overpayment between the resale and the new build over the chosen ownership horizon.

What to check before buying

On the secondary market, Shchedko advised, it is important to check the ownership history, encumbrances and the condition of the apartment; on the primary market — the developer's documents, handover deadlines and the building's readiness. He also advised against counting on a guaranteed rise in housing prices or a future discount: the purchase must remain affordable given the current income and loan terms. Earlier, as the outlet notes, it was reported that Russians have increasingly been taking out market-rate mortgages.