IntermarkSavills presents analysis of the "Moscow Elite Residential Markets for October, 2011".
04 november 2011
IntermarkSavills presents the overview "Moscow Elite Residential Markets for October, 2011". Which encompass the elite, business-class, out-of-town sales markets and rental market.
Few words about these markets for October, 2011:
Continued activation of customer demand in October, 2011 is natural: suspended summer demand switches into actual transactions.
In October, 2011 consumer interest continued to shift towards more compact households. Growth in the number of new-built transactions for compact houses demonstrates that customers are most often ready to pay for a functional area of their country homes.Olga VINOKUROVA, Senior Analyst of Strategic Consulting and Valuation Department, IntermarkSavills
The market feverish again. Against a background of currency fluctuations owners are strongly trying to introduce contract clauses providing for a currency corridor and adjustment of rental rate, making efforts to replace rouble rates with dollar ones and therefore artificially increasing cost of apartments by 15%. In reality this does not work, only protracts negotiations and results in the increase of rental terms.
Autumn months usually bring cheer to the elite housing market. The trend was replicated again this year,– all the key market indicators demonstrated positive dynamics in October.