The average cost of apartments in new buildings in Moscow at the end of July 2024 was 26.38 million rubles (-2.8% per month). These statistics were provided to socialbites.ca by Ruslan Syrtsov, general director of Metrium.
He added that the number of apartments costing up to 15 million rubles is increasing by 7.7% per month. According to the expert, 34,380 such apartments and flats are sold in residential and apartment complexes in the metropolis, which makes up 46.7% of the total supply.
“Despite the decline in purchasing activity, many companies (e.g. Level Group, PIK, FSK, Etalon) announced significant discounts on comfort and business class projects. It is worth noting that the available lots are extremely unevenly distributed across segments: 12,790 lots are mass market, 3,632 are business class, 17,950 of these lots are sold in New Moscow; this offer is not available in the premium and elite segments,” Syrtsov explained.
According to Metrium, the most favorable offers in the primary market of the “old” Moscow:
• Apartment: 5.9 million rubles for 19.9 sq. m in South Butovo (south-west);
• Apartment: 4.1 million rubles for 12.8 sq. m in Ochakovo-Matveevsky (west).
The best deals on the primary market of New Moscow:
• Apartment: 5 million rubles for 20.9 sq. m in Filimonkovsky (Novomoskovsky administrative district)
• Apartment: 5.5 million rubles for 23.9 sq. m in Moskovsky (Novomoskovsky administrative district).
Previously reportedHousing prices in Moscow have fallen.