Real estate in Sochi: the main resort in Russia and the capital of the 2014 Winter Olympics

Sochi is a resort city on the Black Sea coast, the length of which along the coastline is more than 140 km. The so-called Greater Sochi includes four administrative districts: Lazarevsky, Central, Khostinsky and Adlersky.

Apartments for rent in Sochi
Yuri Petrenko. Morning. 2008

It is interesting that the Russian resort is located on the same geographical latitude as the French resort of Nice. There are only a few such unique resorts as Sochi, where a warm sea and a ski resort coexist..

Favorable climatic conditions, a favorable territorial location on the coast of the warm sea, convenient traffic interchanges, the presence of a large international airport and railway stations, a seaport, as well as a developed infrastructure and an extensive network of hotels, boarding houses, sanatoriums attract tourists and vacationers from all over Russia. A visit to a resort city leaves different impressions, but most people who have money savings have a desire to buy a “house by the sea”, an apartment or a land plot on Sochi land.

Real estate in Sochi has always been popular, in demand among potential buyers from other regions of the country and neighboring countries, and the upcoming Winter Olympics in 2014 suddenly raised the cost per square meter of residential real estate in a Russian resort on a par with Moscow and St. Petersburg prices. Currently, when the construction of new Olympic facilities is in full swing, we can summarize some results, consider the level of prices and supply of the Sochi real estate market.

Many real estate buyers in Sochi are investing in resort housing as objects that bring in a very decent annual.

Given the great length of Sochi and the different conditions for new construction in different areas of the resort, it is almost impossible to calculate the average cost of a square meter, but specific proposals from developers and homeowners will help us draw up a reliable picture, analyze trends in the Sochi real estate market.

A natural question arises: who is buying apartments, houses / cottages, land in Sochi at the present time? The answer is obvious and simple – those who have the opportunity to invest in Sochi real estate. But there are also the most active buyers in the Sochi real estate market – these are residents of Moscow, St. Petersburg, and the northern regions of Russia. Ordinary people tend to buy a house / apartment by the sea, to move to permanent residence, to have their own vacation home, to move their parents of retirement age, and so on. Of course, there are buyers of residential real estate in Sochi who invest in resort housing as objects that bring in very decent annuals, given the rise in prices in recent years.

central District

This area occupies the historical center of Sochi from the Vereshchaginka River to the Mamayka microdistrict, between the Lazarevsky and Khostinsky districts of the resort. On the territory of the Central District there are railway and bus stations, a seaport, several city parks and beaches, hundreds of hotels, and on the famous Kurortny Prospect there are dozens of sanatoriums, boarding houses and rest houses. The housing stock of this area is made up of houses built from the last century, new construction of ordinary residential buildings is extremely rare. Exceptions are expensive residential complexes that have begun to be built over the past few years. Currently, the real estate market offers studio apartments in new buildings on “Mamaika” with an area of ​​up to 30 sq.m. costing from 1.5-3 thousand dollars per square meter, apartments with fine finishing. Nearby in a new club-type house on the street. Grapevine, you can buy a 2-room apartment with a view of the sea and the Riviera park, with an area of ​​65 square meters for 5.5 million rubles.

Accommodation in Sochi
Valery Pitaev. Sochi. Windy day. 2002

The most scandalous and expensive project “Alexandria Mayak” has been put into operation and is a 25-storey building, which is located 70 meters from the sea in the very center of the Central District of Sochi. The elite complex “Alexandria Mayak” is located behind a closed protected area, has 3 swimming pools, saunas, a fitness club, an underground 5-level parking, a restaurant, a beauty salon, a spa center, a playground, a concierge service, and so on. In the period from 2006 to 2009, apartments were sold at a price of 1 sq.m / 3 thousand $ and more, while the minimum area of ​​the offered apartments was 182 sq.m, and the maximum – 364 sq.m. Currently, several metropolitan real estate agencies offer for sale an apartment in this house for $ 1,800,000 (including 1 car / parking space), that is, the price of 1 square meter is ~ $ 9,800. In this example, it is easy to see that the cost of apartments in this elite complex has grown, according to the most rough estimates, 2-3 times in just five years.

Ordinary “Khrushchevs” (secondary housing market) in 5-storey buildings on Tsvetochnaya, Vishnevaya, Sanatornaya, Kubanskaya, Pervomayskaya or Strawnichnaya streets are offered for sale at an average price of $ 2,000 per sq.m. It should be noted that, as in any other city, the cost of housing in Sochi depends not only on the condition of the house, apartment, but also on many other factors that can affect the formation of the real value of the object.

If you have a desire to buy a house or a cottage in the Central District of the resort of Sochi, you must have very impressive funds. For example, a small household on Pionerskaya Street with an area of ​​170 square meters on a land plot of 3.5 acres will cost the buyer 15 million rubles, and a small cottage on Roz street with an area of ​​470 square meters on a land plot of almost 6 acres is sold for 150 million rubles.

Buying a land plot in the center of a Russian resort is practically impossible for a private person, so it makes no sense to talk about the cost. However, it is known that such plots are purchased for construction much more expensive than at Rublevka (Moscow region).

Krasnaya Polyana

The real estate market in the village of Krasnaya Polyana, the territory of which belongs to the Adler district of the city of Sochi, is developing in a very unexpected way. After the announcement of Sochi as the capital of the 2014 Winter Olympics, investors and developers, real estate specialists predicted the rapid construction of luxury housing and the demand for it in this luxury holiday destination. But contrary to all predictions, at the foot of the Caucasus Mountains, in Krasnaya Polyana, small apartments and studios in luxurious club residential complexes are in demand, and most large households are waiting in the wings. The average cost of housing in a ski resort is from 3 thousand euros per 1 sq. M..

At the end of 2010, a complex of tunnels was put into operation on the Adler-Krasnaya Polyana highway, thanks to which the road from Sochi-Adler airport to the ski resort takes only half an hour.

Renting an apartment in Sochi
Boris Medvedev. Krasnaya Polyana. Sochi. Acingguars. 2009

Considering the alarming events in the resorts of the African continent, we can assume a new round of interest in the Russian resort town of our compatriots, and who knows how these circumstances can affect the cost of a “house by the very blue sea” on the native Black Sea coast. There is only one advice: “count your money” and invest in the promising and rapidly developing city of Sochi. Buying an apartment, home ownership or land plot is much cheaper and easier in Lazarevsky, Khostinsky and Adler districts, while the sea will be much closer, palm trees are higher, and there is much more free space on the beach.

Buying residential real estate at the initial stage of construction is a very attractive option for private investors.

For example, an apartment in a building under construction in the Khostinsky district can be purchased at a price of $ 1,000 / 1sq.m. It is no secret that well-known Moscow and St. Petersburg companies are leading on the real estate construction market in Sochi, many of which can be trusted with their money. As a rule, the construction of a residential building takes from 1 to 3 years, which means that by investing today, you will have the opportunity to become a spectator of the sporting events of the 2014 Winter Olympics as the owner of Sochi housing.

Let’s summarize and draw conclusions:

  • It is more profitable to buy apartments in Sochi at the initial stage of construction.
  • Home ownership is much cheaper than building it on the acquired land.
  • The highest real estate prices are in the Central District of Greater Sochi and in the village of Krasnaya Polyana, Adler District.
  • The cost of residential real estate in Sochi primarily depends on the distance to the sea or a ski resort, the availability of constant water supply and electricity, proximity to major highways.
  • Further growth in prices for Sochi real estate is predicted due to the development of the infrastructure and urban planning of the Sochi resort.

It should be emphasized that all known problems with hot and cold water, constant power supply are being resolved rapidly in connection with the construction and commissioning of Olympic facilities. The construction of new roads and the improvement of existing highways in Sochi is under the strict control of the 2014 Olympic Committee, local authorities and the Russian government.

The acquisition and investment of funds in real estate in the resort of Sochi and the capital of the 2014 Winter Olympics is one of the chances for private investors to change their lives for the better and get rest at the level of world standards in the very near future.

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