Review of the elite residential real estate market in Moscow

According to the results of the 1st quarter of 2022, the total supply volume on the primary market of luxury real estate in Moscow continued to decline and reached 281.4 thousand square meters, reaching the lowest mark since 2014. The indicator decreased by 25% over the year. The number of lots for sale on the open market decreased to 1,818 lots (-35% over the year);

The share of deluxe class areas increased to 40% due to active demand and the release of new large projects in the class in 2021;

In the 1st quarter of 2022, sales of 4 new projects started on the primary market, just like the previous year;

The majority of lots for sale are represented in complexes at the initial stage of construction - 47%. The share of lots in completed complexes decreased to 22%;

The majority of supply on the market is represented by areas ranging from 100 to 125 square meters - 14% of the total number of lots, followed by lots with areas of 125-150 square meters and 150-175 square meters - each at 13%;

In terms of supply volume, the leading districts are Presnensky (21%), Yakimanka (16%), and Dorogomilovo (12%);

The weighted average price of the offer on the luxury market increased to a record 1,547 thousand rubles per square meter, increasing by 66% over the year and by 24% compared to the 4th quarter of 2021;

A significant increase in the average weighted price in the luxury real estate market is due to the growing share of deluxe properties, where a high percentage of listings are priced in foreign currency - 37%;

The average weighted price in the deluxe segment reached 2,430 thousand rubles per square meter (+69% YoY) and 963 thousand rubles per square meter in the premium segment (+20% YoY);

In the first quarter of 2022, only 346 transactions were concluded in the primary market of luxury housing in Moscow, which is 57% lower compared to the number of transactions in the first quarter of 2021;

In terms of demand in the first quarter of 2022, the leading district is Dorogomilovo (Western Administrative Okrug), accounting for 20% of the sold square meters, followed by Presnensky district with a 15% share of transactions, and then Ramenki (15%) and Yakimanka (14%) districts;

The list of the most popular luxury projects on the market in the first quarter of 2022 includes: Victory Park Residences, "Poklonnaya, 9", and "Ostrov", each of which had over 30 transactions per quarter.