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Offer of premium-class new buildings in Moscow reaches 5-year high

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Offer of premium-class new buildings in Moscow reaches 5-year high

Scope of offer of premium-class residential new buildings on the Moscow market reached a five-year high of about 1.9 thousand lots in the 41 projects, following the November results, according to the review released by Savills, an elite real estate agency.

“November became a record-breaker by quantity of transactions in 2016 – a total number of 60 transactions have been concluded”, the document states. Compared with the previous month, this indicator increased twice.

An average cost of a premium-class apartment purchased in November dropped by 12 percent, to 64 million rubles, in comparison with October. This is accounted for the fact that almost all of the November transactions were made within the framework of debutant projects with starting prices.

According to the company’s data, an average price in this segment totaled 812 thousand rubles per square meter.

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