The demand for luxury housing in Moscow has grown by 10% over the year.

In April 2016, there were 54 transactions recorded on the primary market for luxury housing in Moscow, which is 10% more than the previous year and 15% more than in March. One of the reasons for the increased demand for luxury properties in the capital is that people are finally deciding to make a purchase that has been postponed, hoping for further price reductions, according to the press service of Kalinka Group.

According to Ekaterina Rumyantseva, Chairperson of the company's board of directors, the demand for luxury housing in Moscow has indeed picked up. Another reason for this is the deoffshorization and capital amnesty, which will end in June. People have limited time left to legalize financial assets withdrawn from offshore accounts, so they are investing them in real estate.

Not only the number of transactions increased over the month. The price of a "square meter" in the Moscow luxury real estate market has also increased. The average price per square meter in the sold apartments and flats amounted to 583,000 rubles, which is 10% higher than in March. The average purchase budget also increased (by 14%, up to 75.4 million rubles) as well as the average area of the sold lot (by 9%, up to 133.8 sq. m).