The Moscow government predicts that in 2017 home sales will reach the amount between 350 billion and 400 billion rubles in connection with an increase in supply volume on the market.
This announcement made the head of the Moscow Committee for Construction Investment Projects and Co-Funding Construction, Konstantin Timofeev, over the course of the financial real estate forum in Moscow.
As he explained to reporters, the volume of housing sales in 2016, according to preliminary estimates, amounted to 310-320 billion rubles (3.5 million square meters). Thus, the sales growth might be in the range of 30%.
“Competition has intensified, and the quality of housing has improved,” Timofeev said.