Over the course of this year, Moscow has moved 30 places up in the global rating of changes in prices for the elite housing and took 11th place on the list.
So, for the II quarter of 2018, prices for the elite real estate in the Russian capital city have increased by 6.6% compared to the same period last year, according to a Prime Global Cities Index (PGCI) prepared by the international consulting company Knight Frank.
A year earlier, Moscow was on the 41st place with negative dynamics in minus 11.8%. According to the study, the rise in prices is due to the fact that in 2018, new items of the elite residential real estate have not been put up for sale in Moscow, which has resulted in an increased demand for projects of “new secondary housing”. As a result, 70% of elite apartments are put up for sale in the buildings that have been put in operation. The average amount of transactions in the first half of 2018 has increased by 5% and amounted to 41.2 million rubles.
The three leaders of the rating of rising prices for elite housing are Guangzhou (11.9%), Singapore (11.5%) and Madrid (10.3%).