No new offers were launched in the newly built premium property market during the month. By the end of August, the offer was down 7% to 2,130 apartments / suites measuring 307.3 thousand square meters overall, with suites accounting for 34% of the total offer in the newly built premium property market. The total offer includes 21 residential, 8 suite projects and 1 project that comprises both apartments and suites (Wine House).
By late August 2013, the average offer price in the newly built premium property was $15,170 per square meter in the residential segment of the Central Administrative District (-0.8% month-on-month), while suites in the Central Administrative District are 8% cheaper in average – $13,920 per square meter (+0.5% month-on-month). The average offer price of apartments in newly built premium property outside the Central Administrative District is $12,500 per square meter.
The highest growth of the average offer price (+6.8% month-on-month) was recorded in newly built premium property outside the Central Administrative District. This is due to the fact that projects outside the city’s center are at their active construction stage. The price for such projects is growing faster than that of already completed projects, especially during the seasonal hike in buyers’ activity in the residential market (late August to September).