The Moscow housing market for new-build apartments shows a cautious yet steady slide in pricing as of late July 2024, with the average price reaching 26.38 million rubles, down 2.8 percent on the prior month. These figures were provided by Metrium through its chief executive, Ruslan Syrtsov. The data suggest a shift in demand dynamics and price expectations among buyers looking at modern metropolitan living options.
Among the notable shifts, the segment pricing up to 15 million rubles is expanding, rising by 7.7 percent month over month. Metrium estimates that about 34,380 such apartments were sold across residential and apartment complexes in Moscow, representing roughly 46.7 percent of the current supply. This indicates a sustained appetite for entry- to mid-range units even as overall market activity cools, a pattern seen across multiple developer portfolios.
Several major developers including Level Group, PIK, FSK, and Etalon have responded to softer demand with meaningful price reductions on comfort and business-class projects. Syrtsov notes that the distribution of available inventory remains highly uneven across segments: approximately 12,790 units are in the mass-market tier, 3,632 in the business class segment, and 17,950 of the mass-market units are located in New Moscow. Premium and elite segments show a tighter supply, with fewer options currently available. This uneven spread underscores how buyers may select from a mix of locations and configurations while negotiating for value in a softened market climate.
Metrium highlights the most attractive opportunities in the primary market when looking at the older part of Moscow. The most favorable deals include a studio sized around 19.9 square meters priced at about 5.9 million rubles in the South Butovo district in the south-west, and a compact 12.8 square meter apartment listed at around 4.1 million rubles in Ochakovo-Matveevsky in the western zone. These pockets of value reflect depth in the older stock and ongoing competition among developers to attract first-time buyers and investors seeking affordability within the city limits.
In the newer, or New Moscow, area the strongest value propositions are found in a couple of well-positioned districts. One option features a 20.9 square meter unit priced at roughly 5 million rubles in Filimonkovsky, part of the Novomoskovsky administrative district. Another compelling deal offers 23.9 square meters for about 5.5 million rubles in Moskovsky, also within Novomoskovsky. These listings illustrate how the market is responding to demand with smaller, more affordable layouts that fit urban living needs while compensating for shorter travel times to central hubs, a common trade-off buyers weigh in today’s market environment.
Overall, price declines in Moscow housing prices have been reported in recent periods, reflecting broader shifts in buyer confidence and financing conditions. The current data from Metrium provide a nuanced view of where bargains exist, where supply is concentrated, and how developers are recalibrating their strategies to sustain activity across different segments. The market appears to be moving toward a more balanced equilibrium, with buyers gaining a clearer sense of value across the city’s varied neighborhoods and project classes, even as some segments experience more pronounced price adjustments than others. This snapshot affirms that price sensitivity persists among buyers while developers continue to adapt with discounts and strategic inventory management as part of a broader, ongoing market evolution.