Review of the market of business-class new buildings in Moscow.

1 quarter 2023 year

There are 141 business-class complexes for sale, and the number of projects for sale has increased by 13% in a year.
There are 20,405 lots for sale. The total supply volume continues to grow to 1,361 thousand square meters. There has been a 3% increase in this indicator for the quarter and a 68% increase for the year.
There has been a decrease in developer activity in the first quarter of 2023. Sales of 3 new business-class projects started in the quarter, compared to 5 new projects in the first quarter of 2022.
The number of lots announced in new projects totaled 1,277 on a total area of 63,123 square meters, and approximately 11% of this volume is available for sale at the end of the quarter.
At the end of the first quarter of 2023, the average weighted price of residential properties in the business-class market in Moscow remains at 443,000 rubles per square meter. The price has decreased by 1% in a year.
In the first quarter of 2023, 3,786 transactions were concluded in the market for new business-class properties in Moscow. There has been a 27% increase in demand for the quarter, but compared to the first quarter of 2022, there has been a significant decrease of 37% in the annual number of transactions due to the consequences of the crisis period.