Half of elite housing in Moscow was not housing

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The apartments on Sadovnicheskaya embankment in Mosquitto: Mr Song/ RIA Novosti

In the third quarter of 2018, 54 percent of supply in the primary elite residential market of Moscow had on apartment — property intended for residence, but legally relevant to non-residential premises. This is evidenced by the materials of Blackwood (in the edition”.ru”).

For the second quarter increased 12.8% due to the substantial amount of new luxury apartment complex. Such projects include, in particular, Neva Towers in “Moscow-city” LCD Edison House, Maison Rouge, Sommelier, Magnum, Sinatra and Fairmont&Vesper Residences.

In General, the structure of big-budget deals, will go on sale from July to September, 2018, the share of apartments had three-quarters of the space, said Blackwood.

“The consequence of the withdrawal of a large volume of proposals under the low construction readiness was a decline in prices in the segment of apartments. Compared to the end of 2017 in ruble terms it amounted to seven percent in dollars and 20 percent”, — stated in the materials of the company.

The weighted average offer price in the market of elite apartments by the beginning of October 2018 amounted to 614,1 thousand or nine thousand dollars per square meter.

Previously own quarterly analysis on the capital market of real estate published in the company Kalinka realty. According to them, from July to September 2018 was signed in Moscow on third of more transactions with expensive property than in the same period a year earlier.

Video, photo All from Russia.

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