Overview of the Moscow business class new buildings market

2023 year

There are 146 business class projects on sale, while 141 projects were on sale a year earlier;
There are 19,859 lots on sale for a total of 1,294.9 thousand square meters. The dynamics of indicators for the year amounted to -1% and -3%, respectively;
During the quarter, sales started in 7 new business class projects, including the restart of the complex, which is 1 more than went on sale last quarter and 3 less than in the 4th quarter of 2022;
In new projects, 6,932 lots were announced for a total of 403 thousand square meters, and about 8% of this volume was on sale at the end of the quarter;
In 2023, sales started in 22 business class projects (26 projects in 2022), 17 of which with apartments and only 5 with apartments;
By the end of 2023, the weighted average supply price in the Moscow business class housing market increased by +3% quarter-on-quarter and by +9% year-on-year, reaching 479.8 thousand rubles/sq. m. After price stagnation throughout 2022, 2023 price growth is due to market activation and stimulation of demand by developers ;
The most expensive district of Moscow in the business class segment remained the Central Administrative District (CAO) - the weighted average offer price in the CAO district was 535 thousand rubles / sq. m.;
The 4th quarter of 2023 set a new record for demand in the business class market, which is due to the desire to purchase housing with a mortgage on the same terms before the expected increase in the key rate;
In 2023, 28.9 thousand transactions were concluded for a total of 1,771 thousand square meters in the Moscow business class new buildings market, which became a historical record, exceeding the record of 2021. The dynamics of demand by last year 2022 amounted to +131%;
The projects are the sales leaders in 2023: LCD "Symbol" and LCD "Island" by 5% each, followed by Shagal and Zilart (4%), Sky Garden takes a share of demand of 3%.