As analysts predicted, demand for real estate in Moscow City skyscrapers set a new record in October, growing by a whopping 34.47% compared to September. Such monthly demand growth hasn't been seen in the Moscow International Business Center since 2018.
This was reported by Skolkovo Realty experts. They also analyzed the real estate submarket in the Moscow-City business center and found that the cheapest apartments currently available are 36 square meters in the Empire Tower multifunctional complex . They are located on the 40th floor of the tower and cost 23.2 million rubles.
The most expensive offer remains the penthouse on the 91st floor of the Federation Tower . This lot, with an area of over 2,000 square meters, will cost the buyer 2.6 billion rubles.
Looking at the Moscow-City real estate rental market, Yandex, as expected, is the largest tenant. The company leases 21,000 square meters of office space in the Neva Tower business center .
However, five more new skyscrapers are expected to open in the City by 2024, which promises to create new supply and impact housing prices. These buildings are planned to be built with private investment.
