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Sales volumes of apartments and commercial lots in the Moscow business center in the first quarter of 2021 were twice as high as the same reporting period last year and amounted to more than five billion rubles. In the Federation Tower, all remaining properties with an area of more than one thousand square meters were sold in the spring, with the exception of the last penthouse (almost three thousand meters). Such properties are in most cases acquired by large commercial or government organizations for the arrangement of offices and headquarters.
In the context of increased demand for apartments up to 100 square meters, the necessary redevelopment was carried out to match the level of supply with demand.
What influences the decline in demand
First of all, this is the specificity of the offer - all apartments up to 100 square meters have already been sold in the commissioned towers, and they are in the greatest demand in the business environment. At the beginning of this year, no new properties appeared in the skyscrapers of the business center, so the market froze in anticipation. By autumn, sales are planned to start in three new towers at once, and this is more than two thousand lots.
Another factor is the rise in prices, albeit insignificant. On the primary market, the price of one square meter has reached 660 thousand rubles, and the average price of an object is more than 80 million. Currently, sales are only being conducted in skyscrapers that are in operation. Therefore, before objects in new towers go on sale, one should not expect any sharp changes in the real estate market.
Another determining factor is the availability of finishing. At the moment, the volume of offers of properties without finishing does not exceed one percent. On the one hand, apartments ready for occupancy are convenience, comfort and time saving. But on the other hand, many buyers want to implement their own projects, a conflict of ideas arises about how elite housing should look, what materials and technologies should be used, what equipment should be installed.
General dynamics of transactions
Overall, the dynamics are declining, the volume of transactions has decreased by more than fifteen percent - in total, contracts were signed for just over 60 properties. However, in terms of the amount of transactions, the indicator has grown compared to last year. This is explained by the fact that buyers have shown demand for elite apartments with an average price of 90 million per lot. That is, if in the spring of 2020, the main demand was directed at small-area apartments with a lower price, then the spring of 2021 shows an increase in demand for expensive large-area lots. To some extent, this is due to the specifics of the supply in the towers in operation.
What attracts buyers to Moscow City
The Moscow International Business Center with its developed internal infrastructure has created a favorable environment for business development. There is residential and commercial real estate, and the administrative sector is well developed. Representatives of the business environment find everything they need to conduct business, business meetings, and leisure in the Moscow International Business Center. The district's infrastructure is gradually developing.
There is a sense of anticipation of new offers on the real estate market in skyscrapers under construction. All this allows us to predict positive sales dynamics. The main bet is now on "One Tower" with a large selection of apartments and two more skyscrapers with multi-purpose apartments.
