New premium property market. Moscow. September 2013

No new offers were launched in the new premium class property in September. By the end of the month, the offer declined to 2,113 apartments / suites (-0.8% month-on-month) measuring 301.7 thousand square meters overall (-1.8% month-on-month), with suites staying flat at 30% of the total offer in the newly built premium property market.

Premium property is leading in terms of the offer of finished apartments and suites in the high budget segment. As of September, around 610 finished apartments and suites are offered in the premium property market, which represents 28.9% of the total offer in the market. Finished apartments are offered in Barkli Residence and Barkli Park, and finished suites in multi-occupancy residential property OKO (32, Novy Arbat), Mercury City Tower, and Gorod stolits.
In Moscow, premium residential developments are located not only in central districts, but also outside the center, in districts offering comfortable living conditions, such as Donskoy, Ramenki and Shchukino. The Ramenki, Khamovniki and Shchukino Districts are leading in terms of the amount of offer. They account for around 77% of all apartments offered in the market.

So far, premium suite properties are only offered in the Central Administrative District, with the Presnensky District leading in terms of the amount of offer and accounting for 76% of total premium suites in the market.

By late September 2013, the average offer price in the newly built property segment was $15,300 per square meter in the residential segment of the Central Administrative District (+0.9% month-on-month), while suites in the Central Administrative District are 7% cheaper in average – $14,200 per square meter (+2.1% month-on-month).
The average offer price of apartments in newly built premium property outside the Central Administrative District is $12,650 per square meter (+1.4% month-on-month).
The month-on-month changes are mainly due to the changes in the offer breakdown. An increase in pricelist prices was recorded for such residential developments as Dolina Setun, Aliye Parusa, and Oko (1-3%).

September saw a notable decline in sales, which came at around 40 apartments and suites. This was mainly due to the end of summer promotional campaigns, which were most active in the premium segment, and to the direct price hike in September.

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