The average price per square meter in Moscow City skyscrapers on the new-build market has risen to 750,000 rubles, matching similar offers for properties within the Boulevard Ring. Meanwhile, just last year, prices in the city's historic center were approximately 15% higher than similar offers in towers located within the Moscow International Business Center.
However, analysts at Federation Towers CJSC justify these changes by citing that transactions completed last year have reduced the number of properties available in Moscow City, while the remaining lots from developers are characterized by their large areas and are in the highest price category. Currently, prices per square meter in Moscow City start at 480,000 rubles ( Neva Tower mixed-use complex ) and reach 1,230,000 rubles ( Federation Tower mixed-use complex ).
Experts believe that a shift in the balance is not expected in the medium term, as Moscow City is already almost fully developed and no new listings are planned for the near future. Three projects are currently under construction, which could further impact the ratio between real estate prices in Moscow City and within the Boulevard Ring. However, it's also important to consider that the MIBC's prestige has increased significantly over time. This is due to the relocation of not only the headquarters of major corporations but also a number of federal ministries to the City towers.
