Demand for real estate in Moscow increased by 1.5 times in 2021

In Moscow, the demand for real estate grew 1.5 times in 2021. This was announced on Friday, January 28, on the official website of the mayor of the capital.

As Deputy Mayor for Economic Policy and Property and Land Relations Vladimir Yefimov said, in 2021 Moscow sold over 11.6 thousand urban real estate at auction. This is more than 1.5 times higher than in 2020 – then 7.1 thousand trades took place.

“Most of the auctions were for the sale of parking spaces (6.5 thousand), city apartments (2.8 thousand) and non-residential premises (about 1 thousand),” he is quoted on the website.

In addition, the city sold 1,558 non-residential premises, of which 563 were leased. Most of the objects were rented in the South Administrative District (79), Eastern Administrative District (77) and Central Administrative District (70).

In turn, the head of the Moscow department for competition policy, Ivan Shcherbakov, said that in 2021, entrepreneurs rented 517 non-stationary retail facilities and sites for a total of 36.2 million rubles.

“Kiosks and vending machines were in the greatest demand — 299 such objects were rented from the city. Competition at the auctions averaged over four bidders per lot. Most of the objects were leased in the South and East Administrative Districts. In total, the city sold 158 objects here,” Shcherbakov said.

He noted that the highest level of competition remains at auctions for the sale of apartments. On average, about 12 participants apply for each lot.

On January 19, the public commissioner for forensic examination, cadastral valuation and challenging the cadastral value, Kirill Kulakov, told Izvestia that in 2021 the number of contracts for the sale of non-residential real estate in Moscow increased by 10%.

Most of them are the sale of car parking spaces. However, commercial real estate was also in high demand – 542 contracts were concluded for 6.7 billion rubles.

In November 2021, Moscow Mayor Sergei Sobyanin announced that the number of housing commissioned in the capital has doubled in recent years. So, in 2021, a record 6 million sq. m. Sobyanin said that in New Moscow, 40% of housing is bought by visiting citizens, 60% by Muscovites. Inside the Moscow Ring Road, about 80% of real estate is purchased by residents of the capital.

In September of the same year, it was noted that 20% of the supply of housing in new buildings is concentrated near the future metro stations in Moscow.

In the zone of construction of new stations, developers are implementing 43 development projects, in which 7.8 thousand apartments and apartments are offered to buyers to choose from. In total, the volume of the capital’s new buildings market is estimated at 39.5 thousand objects.