Review of the elite secondary real estate market in Moscow

According to the results of the 3rd quarter of 2023, 839 lots for 153 thousand sq. m. were on sale in the secondary market of elite residential real estate in Moscow. Over the year, the number of lots on sale increased by 11%, in sq. m. m there was an increase of 3%;

·         The average lot area on sale is 181.9 sq. m., and most of the offers range from 100 to 125 sq. m., they account for a total of 13% of the lots in the offer;

·         The main volume of secondary supply in sq. m is represented in Khamovniki – 27%, further in the ranking are Presnensky district – 20% and Ramenki – 12%; 

·         The weighted average price in the secondary market was 1,312 thousand rubles/sq. m (+28% per year);

·         The share of lots with prices in dollars is decreasing: over the year, the decrease was from 27% to 21%. The number of lots that are exhibited in foreign currency decreased by 12% over the year;

·         The maximum weighted average unit price remains in the Khamovniki area – 1,634 thousand rubles per square meter (+28% per year) and in the Yakimanka area – 1,560 thousand rubles per square meter (+22% per year);

·         An increase in the weighted average cost for the year was recorded in all regions, which is associated with both increased demand and a sharp weakening of the ruble;

·         According to Rosreestr, in the first 9 months of 2023, 127.5 thousand transfers of ownership rights were registered in the secondary housing market in Moscow (all classes), which is 32% more than it was a year earlier;

· For 9 months of 2023, the average area of the lot in demand on the secondary market was 140.8 sq. m, which is 3% less than in 2022;

·         The main share of transactions fell on lots with an area of 100-125 sq. m. m and 125-150 sq . m . m – 18% each (against 15% in 2022);

·         The Khamovniki district was in the highest demand, with a share of 18%, Presnensky district with a share of 18%, Ramenki with a share of 15%;

·         The average value of the purchased lot in 2023 amounted to about 120 million rubles, which is 1% less than in the same period of 2022.