In the first half of this year, sales in the primary real estate market within the border of old Moscow have grown largely due to the demand drown off from the secondary market, according to Maria Litinetskaya, the managing partner of Metrium company.
So, in the first half of 2018, 24,000 lots were sold in the primary market of Moscow, which is 45% more than in the same period last year. The area of sold housing is 1.2 million square meters, which means an increase of 42%.
“The demand today is quite stable, it is growing in many respects due to the decrease in sales of the secondary housing”, Litinetskaya said.
At present, 321 projects are presented in the primary market within the border of old Moscow, Litinetskaya specified. There are 43,400 lots with an area of 3,2 million square meters. An increase of the weighted average price for the primary housing was between 2% and 7%, depending on the segment, Litinetskaya added. The smallest growth (2%) is observed in a segment of the mass housing.