New de luxe property market. Moscow. March 2014

By the end of Q1 2014, the offer in the newly built prime property market was 78.4 thousand square meters, including 51.2 thousand square meters apartments and 27.2 thousand of suites (around 190 apartments and 160 suites). In March, the total offer was down 6% month-on-month, and 10% quarter-on-quarter. No new projects were offered in the open market during the quarter.

The share of suites in the prime residential property market is 45% of the total offer in volume terms and 35% of the total floor area.
Accounting for 57% of the offer, Khamovniki remains the leader in the newly built prime property segment in terms of offer.

As of the end of Q1 2014, primary sales were run in 24 residential and 9 suite developments, with 74% of prime newly built property already completed and commissioned. Another 20% are at the assembly stage.

The average area of prime suites is around 180 square meters, and that of apartments is 200 square meters. The bulk of the offer (around 70%) consists of apartments and suites measuring between 100 and 250 square meters.

The Presnensky District is leading the market in terms of the price level, primarily due to the projects in the area of the Patriarshiye Ponds ($30,700 per square meter).

By the end of Q1 2014 the average price for apartments in prime new buildings was $24 100 per sq. m., and for suits - $23 000 per sq. m.

The average figures grew 2% month-on-month due to changes in the offer breakdown, i. e. the sale of the most price-attractive offers, and inclusion of the most expensive apartments on top floors of some projects into the pricelist. In Q1 2014, the average price growth did not exceed 2.5% quarter-on-quarter.

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