News

12/12/13

New premium property market. Moscow. November 2013

No new offers were launched in the new premium class property during the month. By the end of November, the offer was 4.8% down to 284 thousand square meters (1,960 apartments / suites), with suites accounting for around 32% of the total offer in the newly built premium property market.


Premium apartments and suites are offered in 30 new properties. Finished apartments / suites can be purchased in six properties: Barkli Park, Barkli Residence, Novy Arbat 32, and towers of Moscow International Business Center “Moscow City”.


In Barkli Residence, the finishing of apartments is provided for in the co-funded construction agreement: the property will be commissioned in mid-2016 on a turnkey basis, i.e. fully ready for moving in.


By late November 2013, the average offer price in the newly built premium property was $16,450 per square meter in the residential segment in the Central Administrative District (-3.7% month-on-month), while suites in the Central Administrative District are 13% cheaper in average: $14,360 per square meter (+0.9% month-on-month). The average offer price of apartments in newly built premium property outside the Central Administrative District is $12,780 per square meter (+0.9% month-on-month).


In November, the average offer budget was $2m. Prices vary from $0.5m to $16m and depend on the floor area of apartments, location of the property, construction stage and fit-out level. The highest offer varies between $1m and $1.5m.


Attractive special New Year offers were launched in the middle of the month. In the premium segment, the most popular special offers include direct discounts for apartments / suites and free-of-charge parking places.


”As in previous years, we are recording an increase in buyers’ activity due to New Year special offers on our projects,” says Yekaterina Fonareva, Barkli Corporation’s Commercial Director. “For instance, the pool of apartments allocated for the special offer in Barkli Residence has already been sold out, but we still have other attractive offers for the buyers in this property.”


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