Sunday, June 22, 2008

Demand in secondary real estate market in Moscow by 40-50%

Last week the most marketable panel apartment blocks have increased in price by 0.8% on the average. From June 9 to 15 the average price per square meter in the capital grew insignificantly (by 0.6% in dollars) and approximately reached $7,800. The growth in rubles made 0.1%, up to the level of 184,900 rubles. In Moscow Region, the prices increased by 0.2% in dollars and decreased by 0.3% in rubles. At the present moment, the average supply price in the region is $3,300 or 78,600 rubles per square meter.

For the indicated week, the general volume of supply in the capital grew insignificantly (by 0.5% as compared to the previous week) and totaled about 24,500 apartments. In Moscow Region, decrease of supply by 3.2% or up to 11,900 apartments is registered.

Russian Properties News