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

13 december 2011

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

Few words about these markets for November, 2011:

In November, 2011 18% of all new-build business-class sales were made with sojourn apartments. Such an interest is significantly influenced by the “entrance ticket” price – on average 20% lower than the price of flats.

The investment aspect is also quite appealing – the prices of apartments grow at the same pace as the housing market and rental rates are no lower than those for flats.

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

A growing demand for turn-key houses/land plots with a construction contract (by over 15%) and townhouse (by almost 25%) is a favourable November tendency.

We believe that around 170-190 new-build out-of-town business- and premium-class sales will be closed before the end of the year. Thus, the number of closed sales in 2011 will total around 1800. This indicator is over 20% higher than last year.

Olga VINOKUROVA, Senior Analyst of Strategic Consulting and Valuation Department, IntermarkSavills

In November, 2011, 30 sales were closed on the new-build elite housing market. The decrease in demand in comparison with the record October is mainly due to the up-coming State Duma elections. Bureaucrats and businessmen accounting for a significant share of purchases are mainly occupied with solving political rather than vital issues.

On the whole, however, the number of new-build sales in autumn, 2011, is one-third higher than in 2010 and amounts to 42 sales/month

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