Premium Moscow Real Estate: Sales Trends and Price Movements (2023–2024)
Between June 2023 and June 2024, buyers in Moscow purchased 6.1 thousand premium new apartments and homes. A year earlier, equity participation agreements had been signed for 2 thousand properties. These figures come from a briefing to socialbites.ca, shared by Anna Radjabova, who leads luxury real estate management at Metrium Premium. The data illustrate robust demand for high-end new-build properties even as the market faced rising costs and tighter financial conditions.
Looking at the overall development of premium new buildings, the total floor area expanded from 160,000 square meters in 2018–2019 to 444,000 square meters in 2023–2024. That represents nearly a threefold increase, underscoring a clear shift toward larger-scale premium projects and the growing presence of luxury offerings in the capital’s property landscape.
Even as demand climbed, the price environment for premium real estate did not remain static. Prices for new premium properties rose by 37 percent. The average price per square meter climbed from about 508,000 rubles in 2019 to roughly 696,000 rubles in mid-2019, continuing to reflect market tightening through the second quarter of 2024. During this period, the average apartment size compressed from 103 square meters to 79 square meters, indicating a shift toward more compact layouts within the premium segment.
Radjabova highlighted notable price movements across apartment configurations: five years of growth brought the cost of premium one- and four-bedroom units to about 150 million rubles on average, a 69 percent rise. One-bedroom units followed with a 62 percent increase, reaching around 32 million rubles on average. Three-bedroom properties became 60 percent more expensive, two-bedroom units saw a 57 percent rise to approximately 51 million rubles, and studio units jumped 54 percent to around 20 million rubles. The data reflect a market where larger premium dwellings have appreciated substantially, while smaller premium formats also experienced meaningful value gains.
Industry observers note a shift in buyer preferences. The Commercial Director of Optima Development, Dmitry Golev, pointed out that buyers are moving away from standalone country houses toward apartment living within residential complexes. The advantages cited include access to a full range of services and the security and convenience of a well-planned internal environment, often with dedicated outdoor spaces for residents. This trend aligns with broader market dynamics where lifestyle amenities and managed communities add appeal to premium purchases.
Earlier reports confirmed that the Moscow premium segment had seen sharp price increases, reinforcing the narrative of a strong but selectively priced market. Observers emphasize that the trajectory is influenced by a combination of limited supply in top-tier segments, ongoing demand from affluent buyers, and favorable financing options for well-qualified purchasers, even as mortgage terms evolve. The premium sector continues to attract interest from investors and end users who value prime locations, high-quality construction, and distinctive architectural features.
In related notes, industry insiders have discussed how shifts in macroeconomic policy and consumer credit conditions impact premium demand. The landscape remains dynamic as developers adjust project scope, amenities, and payment structures to meet evolving preferences and market realities. And while the premium market shows resilience, buyers are advised to perform careful due diligence on property specifics, including location advantages, project timelines, and long-term value propositions in the ever-competitive Moscow luxury niche.
What this means for the broader real estate market is that premium segments can experience rapid capitalization when new projects launch with compelling designs and well-positioned locations. For buyers in Canada, the United States, and other international markets monitoring Moscow’s luxury scene, these shifts illustrate how premium pricing and inventory expansion interact with consumer sentiment to shape opportunity and risk in a global context.
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