Capital repatriation led to a sharp increase in demand for elite real estate

According to Kalinka Ecosystem, in the first half of 2024, 819 transactions were concluded on the primary market of elite real estate in Moscow, amounting to over 110.8 billion rubles.

The highest market activity was observed in April of the current year, with 209 transactions registered, connected with the release of new projects and capital repatriation to Russia. And although demand slightly decreased in May and June, overall, the number of transactions increased by 64% compared to the first half of 2023: 499 and, respectively, 819. Meanwhile, the demand growth for the 2nd quarter of 2024 was 59% compared to the same period of the previous year (295 and 474 transactions, respectively).

The average weighted price of 1 square meter of premium housing for the half-year was 1.75 million rubles. In the "deluxe" segment, it reached a mark of 2.8 million rubles/sq. m, and in the "premium" - 1.06 million rubles/sq. m.

As for the supply, 11 new projects entered the market since the beginning of the current year. The supply volume significantly increased due to the "deluxe" class and as a result amounted to 3.6 thousand lots with a total area of 492.2 thousand sq. m.