Review of the secondary housing market in Moscow for February 2011

At the same time, the price of apartments in monolithic-brick buildings of increased comfort decreased by 1%; their average unit price was equal to 245 thousand rubles per sq.m. As for the cheapest segment, traditionally this niche belongs to panel Khrushchev houses, the average price of apartments in this category in January was 138.5 thousand rubles per sq. M..

The secondary housing market in the Moscow region also demonstrates stability

For the first month of 2011, the average unit price of supply in the secondary market of the Moscow Region in ruble terms remained practically at the same level as in December last year. Experts note only an insignificant drop in the average price, by only 0.2%. The strengthening of the Russian ruble led to an increase in prices in dollar terms by 1.1%. According to the results of January, in the secondary housing market in the Moscow region, the average supply price of apartments was: in national currency – 72.8 thousand rubles per sq. M. m, in dollars – $ 2318 per sq. m.

A decrease in prices was noted for apartments of all categories. The drop in prices for one-room, two-room and three-room apartments ranged from 0.2% to 0.4%.

If we consider the quality of apartments, then the offer price of business-class housing fell by 0.5%, among which brick houses with a large kitchen and monolithic buildings lost more than others, having fallen in price by 1% compared to December last year.

Consequently, we can say that the level of supply prices in the secondary housing market of the Moscow region remains stable. In general, in January, the Moscow Region secondary housing market is developing in the same direction as the capital – the number of apartments offered, due to the lengthy New Year holidays, slightly decreased, prices have not changed much and remain at the same level. As before, the most demanded apartments in the Moscow suburbs, the cost of these apartments is quite comparable with the prices of housing on the outskirts of Moscow.

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What the future holds for us

All experts agree on one thing that no major changes are expected in the capital’s secondary housing market in the near future. Further growth in the activity of potential buyers is expected. The country is gradually recovering from the crisis, the purchasing power of the population is increasing. It is equally important that prices remain at a very favorable level for buyers. Therefore, it can be expected that many in this situation will direct their efforts and money to purchase an apartment..

As for the supply, after the January lull, a noticeable increase in the supply of apartments in the secondary market is expected in the coming months, and very soon the supply will return to the level of the end of 2010.

As for the price, experts are sure that there will be no strong jumps in the near future. The trend in the market is such that, given the increase in the supply of apartments in new buildings, both in Moscow and in the Moscow region, a stable price situation is expected in the secondary market until spring 2011.

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