IntermarkSavills presents analysis of the "Moscow Elite Residential Markets for May, 2011".
14 june 2011
IntermarkSavills presents the overview "Moscow Elite Residential Markets for May, 2011".Which encompass the elite, business-class, out-of-town sales markets and rental market.
Few words about these markets for May, 2011:
Over the past three months the new-build premium-class market has shown stable high demand. At the same time new-build market prices have demonstrated sustainable growth. The second-hand market has shown a 2,5% drop in supply price, which is partly due to the fact that many vendors are trying to sell their apartments before the summer vacation season.Dmitry KHALIN, Head of In-Town Residential Real Estate Department, IntermarkSavills
During April and May the townhouse market was noticeably active both in terms of price growth and the number of closed sales. «Sukhanovo Park» and «Mark Twain» took the lead in the business-class segment. These communities are located close to the MKAD (less than 10 km away) and are considered by buyers as an alternative to apartments in Moscow. Both projects offer sections at 75-80 thousand roubles per sq.m with a floor area corresponding to that of a three-room apartment. However, such a townhouse costs 25-30% less than an equivalent apartment in Moscow.Olga VINOKUROVA, Senior Analyst of Marketing and Market Monitoring Department, IntermarkSavills
With the supply constantly shrinking the most sought-after properties are apartments with a few bedrooms in Chistye Prudy, Zamoskvorechye, Leningradsky and Leninsky Avenue areas. It is also as difficult to find a similar apartment located in close proximity to international schools. The average tenant budget ranges from 6000 to 12000 USD.
At the end of May 2011 new-build sales had been carried out in 31 business-class complexes. One project of the highest quality in the business-class segment returned to the market – «Sky House». At the same time Block 10 of the «Wellton Park» project in Marshala Zhukova 43 was released onto the market. As a result the total new-build supply of business-class apartments rose by 17% and amounted to approximately 2700 properties.Dmitry KHALIN, Head of In-Town Residential Real Estate Department, IntermarkSavills