New premium property market. Moscow. October 2013

No new projects were launched in the newly built premium property market during the month. By the end of October, the offer declined 1.1% to 298.3 thousand square meters (2,050 apartments / suites), with the share of suites accounting for around 32% of the total amount of new construction projects offered in the premium segment.

As of late October 2013, the average offer price in the newly built premium property segment was $15,850 per square meter in residential developments of the Central Administrative District (+3.5% month-on-month), suites in the Central Administrative District are 10% cheaper in average – $14,250 per square meter (+0.2% month-on-month).

The average offer price of apartments in newly built premium property outside the Central Administrative District is $12,670 per square meter (+0.1% month-on-month).

The month-on-month changes in the average figures were primarily affected by the changes in the offer breakdown.

Individual premium developments posted direct price hikes for apartments / suites since early September, in particular Dolina Setun, Aliye Parusa, Barrin House, and Oko.

This year, however, the traditional fall increase in prices is accompanied as a rule by special offers. The following promotion campaigns were run in the premium segment during September – October: discounts on lump sum payment; special approval conditions offered by partner banks; and free-of-charge parking places.

Special New Year campaigns, offering discounts for buyers, are launched as early as in mid-November.

In particular, as we approach the year 2014, Barkli Corporation grants below-grade parking places free of charge to those who buy apartments in Barkli Residence.* The offer is valid from 11 November to 20 December 2013.

Barkli Residence is the first project in Russia by US architect Robert Stern. Its architecture continues the traditions of neoclassicism typical for high-risers of the New York of the 1930s and the Moscow of the mid-20th century. Barkli Residence will have 154 apartments, a fitness facility, a bank office, a childcare center, a shopping area and a 352-place below-grade parking facility.

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