Moscow Luxury Real estate market Overview

2023 year

An increase in the supply to 3,444 lots (+1% for the quarter and +33% for the year). The total supply volume amounted to 470 thousand square meters (+0% for the quarter and +31% for the year);
By the end of 2023, sales of 22 new projects started, including 12 deluxe and 10 premium projects;
In terms of supply, the leading districts are still Presnensky district - 26%, including MIBC Moscow City, Yakimanka -11% and Khamovniki district with a share of 10%, the 4th place is occupied by Tverskoy district (9%);
The weighted average price in the elite market as a whole showed an increase of 13% over the year to 1,563 thousand rubles /sq. m.;
In the premium class, the indicator amounted to 999.9 thousand rubles per square meter (+4% per year), in the deluxe class, the increase to 2,507 thousand rubles per square meter (+15% per year);
Due to the volatility of the real estate exchange rate, prices in terms of dollars fell significantly, which made it possible to reorient part of the target audience of luxury housing from purchasing real estate abroad to the domestic market;
Demand recovery compared to previous quarters: 558 transactions were concluded in the 4th quarter of 2023, which is 9% higher than in the 3rd quarter of 2023 and 3 times more than in the 4th quarter of 2022;
The largest increase in the number of transactions occurred in the deluxe class: an increase of 29% in the quarter and 3.7 times compared to the 4th quarter of 2022 – up to 141 transactions, which is a record sales figure for the quarter in the luxury housing market;
The Premium class showed an increase in transactions for the quarter by 4% over the quarter and by 184% compared to the 4th quarter of 2022 – up to 417 transactions per quarter;
The total amount of transactions for the 4th quarter of 2023 amounted to 87 billion rubles, which is a record figure for the volume of transactions per quarter in rubles in the entire history of the elite market in Moscow. Thus, the indicator exceeded the previous record period of the 4th quarter of 2021 by 18%;
The demand indicator for 2023 in the elite market as a whole showed an increase in the number of transactions by 74% compared to 2022: a total of 1,568 lots for 191.5 thousand square meters were purchased during the year (+80% compared to 2022);
The total value of purchased real estate in the primary luxury housing market has reached 220 billion rubles (+97% compared to 2022). However, due to the low activity of buyers at the beginning of the year, the annual volume of transactions did not exceed the record figure of 2021 (-11%);
The largest increase in the number of transactions over the year occurred in the deluxe class – an increase of 104% compared to 2022 to 351 transactions per year;
Premium class demonstrated a 67% increase in transactions over the year – up to 1,217 transactions;
September and December were the most active in terms of the number of completed transactions (13% of transactions each), as well as November (12%), and January was traditionally the least active month (2% of transactions);
The indicator of the weighted average unit cost of 1 sq. m of the purchased lot increased significantly in the 4th quarter – on average to 1.27 million rubles, which is 7% higher than in the 4th quarter of 2022;
The average budget of the transaction in 2023 amounted to about 140.8 million rubles, which is 13% higher than in 2022
in the premium segment, the average budget increased to 101 million rubles (+14% compared to 2022);

in the deluxe segment – 278 million rubles (+1% compared to 2022).
Among the areas in demand in 2023, Khamovniki (26%), Presnensky district (23% of transactions), Ramenki (11%) are leading in terms of sales in the premium class;
The best-selling projects in the premium class in 2023 were: the new Luzhniki Collection complex (23%) in Khamovniki from Absolute Premium, premium queues of the residential complex Ostrov from Donstroy (14%), Dom Dau from the Sum of Elements Group in Presnensky district (7%), Life Time residential complex from Sminex (7%) and Badaevsky residential complex (5%) in Dorogomilovo from Capital Group. In each of these projects, more than 50 deals were concluded in a year;
In the deluxe class, the most popular projects were: Vesper Tverskaya (17%) from Vesper, DOM XXII from Donstroy in Khamovniki (11%), Khamovniki 12 from Coldy (7%), as well as Lavrushinsky residential complex in the Yakimanka district from Sminex-Inteko with a share of 4%, projects "Obydenskiy No. 1" in the Ostozhenka area from Sminex-Inteko (8%).