IntermarkSavills presents analysis of the "Moscow Elite Residential Markets for October, 2010".

08 november 2010

business_oct_eng.jpgIntermarkSavills presents the overview "Moscow Elite Residential Markets for October, 2010".Which encompass the elite, business-class, out-of-town sales markets and rental market.

Few words about these markets for October, 2010:

«During 2010 prices for elite housing property were increasing. In some new complexes the cost of a square meter has gone up by 25% and more over the last ten months. Therefore, it makes sense again to look for investment purchases...»

Dmitry KHALIN, Head of Strategic Consulting and Valuation Department, IntermarkSavills

In spite of the resumed activity of potential tenants in October 2010, average demand budgets do not show any growth and remain lower than the pre-crisis figures. In this context owners of expensive apartments should not count upon a sharp rise in prices.

Galina TKACH, Head of In-town Residential Real Estate Department, IntermarkSavills

Increasing demand for completed villas and plots with a construction contract (by more than 25%) and townhouses (by almost 15%) was a favorable trend in October.

In the next few months we can expect further stabilization of prices in liquid projects that are at the final construction stages and that provide discounts and installments. Mortgage for suburban property (including townhouses) that is back there after the crisis provides an additional incentive for the buyers...

Olga VINOKUROVA, Senior Analyst of Marketing and Market Monitoring Department, IntermarkSavills

In early November 2010 the supply price of a business class apartment was the same as that in November 2009. However, while last year the price-trend was downward, in 2010 the price vector is upwarddirected...

Dmitry KHALIN, Head of Strategic Consulting and Valuation Department, IntermarkSavills