At the end of January 2022, about 90 real estate transactions were concluded in Moscow with a budget exceeding $1 million, which is approximately the same as a year earlier and 17% more than in January 2020. This is evidenced by the data of the international agency of elite real estate Savills, which were received by the editors of Izvestia on Thursday, February 17.
In total, 90 high-budget deals were concluded in the capital’s elite housing market in the first month of the year.
The average market offer price of premium new buildings with a budget of $1 million for the first time exceeded the mark of 1.2 million rubles per 1 sq. m. m. At the same time, the average selling price of a “square” does not yet reach 1 million rubles and amounts to 925 thousand rubles, but over the past year it has added 17% from the value of 789 thousand rubles last year.
The average transaction budget last month also increased by 17% and reached 145 million rubles. In January 2020, the figure was 124 million rubles.
Dmitry Khalin, managing partner of Savills in Russia, noted that the average monthly volume of transactions achieved in 2021 is not declining, but there are “no significant prerequisites” for further growth. According to him, consistently high activity will continue throughout the year, but so far the new supply cannot compensate for active demand.
Over the past two months, the market has replenished with three high-budget projects, only one of which is located in the Central Administrative District. Namely, this district is now at the peak of demand – the share of transactions with budgets from $1 million here in January amounted to 71%, Khalin added.
More and more millionaire buyers prefer new buildings. In January, the share of transactions in the primary market amounted to 59%. Over the past four years, the share of demand for new luxury homes has increased by 17 percentage points, in January 2019 it was 41%.
It is worth noting that 61% of the elite new buildings purchased over the past year are apartments. The remaining sold lots are apartments.
At the end of January, Savills reported that in the segment of high-budget new buildings in Moscow, the share of mortgage transactions increased to 28% in 2021, while since 2017 it has not exceeded 19%.
The average budget of a mortgage transaction in the capital has increased from 66 million to 73 million rubles over five years. The area of purchased apartments decreased by 13 square meters. m, up to 100 sq. m.
In the elite segment, the average term of mortgage lending has increased to 20 years, while in 2017 it was about 13 years.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
