IntermarkSavills presents analysis of the "Moscow Elite Residential Markets for April, 2011".

12 may 2011

2011-04-business.gifIntermarkSavills presents the overview "Moscow Elite Residential Markets for April, 2011".Which encompass the elite, business-class, out-of-town sales markets and rental market.

Few words about these markets for April, 2011:

During April the number of closed sales in new-build business-class apartments remained stable at a level of 130 sales per month, which reflects the trend observed throughout Q1, 2011. The new-build supply continues to reduce – in the past seven months the figures went down by 25%. At the moment 2300 apartments remain for sale.

Dmitry KHALIN,Head of In-Town Residential Real Estate Department at IntermarkSavills

Potential tenant activity on the high-budget rental property market remains at a high level, which is typical for this time of the year. The share of Russian clients willing to rent an elite apartment is growing – in April they totalled 35% of all inquiries.

Elena KOSTENKO, Senior Analyst of Leasing Department at IntermarkSavills

In April 2011 the elite housing market demonstrated continued growth – 3% since the start of the year. Developers of three complexes raised prices by 5-10%. At the same time the second-hand market demonstrated less steady dynamics. The currency factor played an important role in setting market prices.

Dmitry KHALIN, Head of In-Town Residential Real Estate Department at IntermarkSavills