Weighted average price of 1 square meter. In the first quarter of 2024, the price per m2 of apartments and business class apartments in Moscow amounted to 449,679 rubles; this is 9.2% more than the previous year. The newspaper writes about this “News” With reference to the data of the Metrium company.
Experts note that at the end of the first quarter of this year, in the primary business class real estate market in Moscow, 128 projects offering 20.3 thousand lots, including 16.2 thousand apartments and 4.1 thousand apartments, were offered for sale. Supply volume increased 2.3% in the quarter and 2.9% in the year. The leader in the number of objects offered for sale was the Southern Administrative District, where 4.5 thousand lots were offered.
Analysts also noted a decline in the share of mortgage transactions in the business class – from 73% in the fourth quarter of 2023 to 58% in the first quarter of 2024. 5.2 thousand DDUs were concluded in the first three months of 2024; This figure is 41% less than in the previous quarter, but 55% more than in the first quarter of 2023.
According to Metrium general director Ruslan Syrtsov, the decline in sales in January-February was caused by the seasonal factor, as well as buyers’ fears about the increase in interest rates and worsening mortgage conditions. The recovery in demand started in March.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.