In the first four months of 2021, Moscow City apartment sales totaled 63 lots, worth over 5.2 billion rubles. This figure is double that of the same reporting period in 2020, demonstrating growing purchasing power and demand for luxury real estate in the capital's business center.
This year, the total supply was almost 45% lower than last year. The average price per purchased property was approximately 85 million rubles. The bulk of the statistics were generated by sales of properties of varying sizes in the Vostok Tower of the Federation Complex. The total transaction value for nine properties exceeded 2.1 billion rubles. Active sales are also underway in two other buildings in the business district – Neva Towers and Oko .
Experts also note that the market is awaiting the completion of new Moscow City projects. These include the One Tower project—a residential high-rise complex scheduled to be fully operational by 2024—as well as apartments in the Imperia 2 tower and several other new properties. The market will be replenished with more than 2,000 lots, including apartments, private residences, and commercial and office space.
The average price per square meter is around 670,000 rubles. This figure is virtually unchanged from last year.
Factors driving the growing demand for real estate in the capital's business center:
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Stabilization of the economy, mitigation of the consequences of pandemic restrictions and sanctions policies of external partners;
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Dynamic development of the Moscow-City infrastructure, offerings in various categories (by class, purpose of real estate, services);
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Favorable commercial offers for buyers, tenants, and investors.
Further dynamics depend on a combination of factors, including the decision on the status of apartments in the business center towers.
