Elite housing mortgage is gaining popularity in Moscow

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Elite housing mortgage is gaining popularity in Moscow
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Over the past three months, the demand for elite new buildings in the Russian capital city has jumped. Such information is contained in a study provided by the consulting company Savills.

Compared to the first quarter of the 2017 year, in early 2018, the demand for elite housing increased by 24%. According to the company, from January to March of this year, more than 140 contracts were concluded for the purchase of apartments worth a total of over 10 billion rubles ($160 million).

The average price of an elite living space in new buildings in Moscow amounts to about 800,000 rubles ($13,000) per square meter. At the same time, there is a 25% increase in the share of elite housing buyers who took advantage of a mortgage loan. As experts say, such dynamics will continue in the coming months as well. The volume of new elite buildings supply in Moscow has also increased — up to 70% compared to the level of the 2016 year.