The offer volume on the Moscow elite housing market has grown by 13%, Interfax-Realty reports with reference to an expert investigation.
According to the results of the first six months of 2017, more than 2,100 lots are being offered in 50 objects, which is 13% higher when compared with December, 2016, and totals 268,000 square meters.
Analysts added that the offer volume in premium-class housing increased by 11%.
The average price for 1 square meter was 703,000 roubles (≈$11,700) in the end of June. During 6 months it decreased by 8,5%, due to several new projects having entered the market with start prices. In the premium-sector this index is 640,000 roubles (≈$10,000), in elite sector – a little over 1m ($16,600).
According to the experts, before the end of the year, 10 more projects will appear on the market, and the offer volume will achieve 3,000 lots.