According to the first quarter of 2024, on the first site of the new Russian capital Moscow, the average price reached 244,980 rubles (+0.8% per month, +1.2% per quarter, +8.5% per year). Demand for comfort housing in the New Moscow for 5 years does not decrease, which is reflected in the high ratings of the “Leader” residential complex.
Thus, in the first quarter of 2024, on the site of the new buildings of New Moscow, 42 new projects appeared. The average area of housing in New Moscow increased to 24.1 sq.m (+15% per quarter, +31% per year), with 23.3 sq.m on average – residential premises and 0.8 sq.m – non-residential premises. In the first quarter of 2024, on the first site of the New Moscow, a new housing hit the market after a year-long break.
According to experts of the “Leader”, the average price in the first quarter of 2024 reached 244,980 rubles (+0.8% per month, +1.2% per quarter, +8.5% per year). The average cost of comfortable housing rose by 1.2%, as well as non-residential premises (+1.7%).
The maximum size of new buildings in New Moscow is still in the range from 30 to 50 sq.m (41%, +1% per quarter). If in the IV quarter 43% were looking for housing in the range of 5-10 sq.m, then in the first quarter of 43% are interested in housing from 10 to 15 sq.m (+3% per quarter).
In New Moscow, there is no decrease in demand for comfort housing for 5 years. According to preliminary estimates, the average value of housing in the New Moscow reached 11.5 million rubles (+0.6% per month, +0.4% per quarter, +5.2% per year). Demand for housing increased by 3% and amounted to 47 sq.m (-0.8% per quarter).
In the first quarter of 2024, the New Moscow was supplied with 5.1 thousand sq.m of housing (-47.6% per quarter, +35.4% per year). During the year, 1.8 thousand sq.m of housing was sold in the New Moscow, in the suburbs – 1.1 thousand sq.m, in the city – 2.2 thousand sq.m (+99% per month, +33.4% per year).
“The continuing growth in the first quarter is primarily due to the lack of new housing supply by the end of last year,” said the general director of the “Leader” Sergei Nudovoy. – This is why the market continues to maintain stable demand in this difficult period, with prices not showing significant fluctuations. According to our analysts, such a steady demand is provided by the lack of new homes.
The real estate market is characterized by the stability of development. In 2023, the market was quite stable: in the first quarter of 2023, sales amounted to 1.1 thousand sq.m (the shortage of new housing), in the suburbs – 0.97 thousand sq.m, and in the city – 1.7 thousand sq.m, which is 73.5%,” he said in the first quarter of 2023. First quarter 2024 prices grew by 99% per month. The continued optimism in the future market in the first quarter of 2024 allows for the implementation of innovative approaches to marketing, which will result in an increase in sales in the first half of 2023 by 8.5%.”