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Chinese buy elite housing in Moscow twice as often

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Chinese buy elite housing in Moscow twice as often

The number of deals on Moscow housing purchases made by buyers from China has increased twofold over the course of the last three years, according to the research by analytical center at INKOM Real Estate published on Thursday.

Experts believe that the demand is localized in the center and the southwest of the capital city of Russia and is focused on “premium” and “elite” categories. At the same time, purchases are made with the purpose to preserve monetary resources within the framework of savings’ diversification.

Also, the research states that a portion of foreign investors on the secondary market of housing in Moscow amounts to about 3%.

As of October 2016, an average offer price on the secondary market was $2912 per square meter.

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