This summer, over 50 real estate items were sold at auctions in Moscow, the city department for competition policy said.
The matter concerns the period from June to August 2018. According to the head of the department Gennady Degtev, the auctions’ participants were active, despite the seasonal decline in business activity in the Russian real estate market. There was an average of 4-5 bidders for one lot. These are indicators usually characteristic for the winter and spring seasons, he stressed.
So, from June to August 2018, a total of 54 lots or over 4,300 square meters of real estate were sold. These premises are mainly located on the first floors of apartment buildings.
The growing activity of bidders affected the value of lots. While in 2017, the established price increased by an average of 28%, this summer the rate amounted to 38%.