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

· There are 142 business-class projects for sale, and the number of projects for sale has increased by 4% over the year;

· There are a total of 21,718 lots for sale covering 1,409 thousand square meters. The growth in indicators over the year is +24% and +20% respectively;

· There was an increase in developer activity in the 2nd quarter of 2023: sales started in 6 new business-class projects, compared to 3 new projects in the 1st quarter of 2022;

· The number of lots announced in new projects was 4,497, covering a total of 186 thousand square meters, and sales at the end of the quarter accounted for approximately 29% of this volume;

· As of the end of the 1st half of 2023, the average offering price in the Moscow business-class housing market increased by +2% quarter-on-quarter and reached 450 thousand rubles per square meter. The price has remained almost unchanged over the year.

· The most expensive district of Moscow in the business class segment was the Central Administrative District (CAD) - the weighted average price in the CAD district was 488.4 thousand rubles per square meter;

·  The past quarter showed some revival in demand in the business class market, which was associated, among other things, with expectations of an increase in the key rate and worsening mortgage conditions, as well as against the backdrop of a significant decrease in prices for Russian real estate in foreign currency.

· In the first half of 2023, 9,402 transactions were concluded totaling 596.6 thousand square meters in the Moscow business class new construction market. The demand dynamics by the first half of 2022 amounted to +11%.