In July, over a million square meters of new buildings have been put up for sale in Russia’s capital city and the Moscow region.
According to TsIAN real estate website, the current supply is a record one for the last year and a half. A higher rate was recorded at the end of 2016, with 1.12 million square meters put up for sale.
The report notes that July has become a record breaker not only in terms of supply. Developers have also put into operation the largest number of buildings within their projects — 64, which is one third more than last month and two times higher than in 2017.
Analysts at TsIAN believe that such a significant rise in supply is due to an increase in the number of construction permits issued during the period from April to June 2018.