The price of 1 sq. m. of premium-class housing of "old" Moscow has grown by almost 20%
At the end of December 2024, the weighted average price of 1 sq. m. of apartments and apartments in the primary market of premium class of "old" Moscow amounted to 785,210 rubles. For a month the cost increased by 5%, for a quarter - by 4.8%, and for a year - by 19.8%. This follows from the data of the company "Metrium", with which "Izvestia" got acquainted on January 17.
At the end of last year on the Moscow premium real estate market there were 62 projects with apartments and apartments in realization. The volume of supply at the end of the period amounted to 6,871 lots (+36% for the year), of which 6,439 - apartments and 432 - apartments.
The maximum volume of exposure is represented in the buildings at the stage of installation of floors, however, over the year the indicator decreased by 11 percentage points (p.p.), to 37.3%. Over the year the share of supply at the excavation (29.5%), at the stage of finishing (23.4%) and in completed buildings (9.9%) has increased.
According to analysts' information, in the structure of supply by type of finishing there is a tendency to growth of popularity of rough finishing (66,6%, +16 p.p. for the year). The volume of supply with finishing and with white box finishing for the year in quantitative terms practically did not change, but due to the growth of supply without finishing, the share of such formats decreased.
"The most popular finishing format in the premium class in 2024 is white box. Firstly, this option allows to individualize interiors. Secondly, its presence still simplifies the repair, eliminating the need to perform the most complex, noisy, energy-consuming work. Thirdly, pre-finishing from the developer helps the client to save money, but the total cost of the apartment does not grow extremely, therefore, it is possible to make an affordable loan (credit or installment). The share of apartments with white box finishing has halved over the year. But the shortage of supply is due to the demand for the format," explained Dmitry Golev, Commercial Director of Optima Development.
According to experts, during the year the share of apartments and apartments up to 40 million rubles decreased by 7 p.p. and amounted to 41%. Only 3% of premium class real estate is offered in the budget up to 20 million.
Also analysts noted that with the growth of supply the level of demand in the segment increased and amounted to 6242 share participation agreement (+33% for the year).
"In 2024, there was an expansion of the geography of premium-class new buildings. Thus, ZAO for the first time in history surpassed CAO in terms of supply volume. Compared to more low-budget segments, the demand for premium-class new buildings is virtually unaffected by changes in mortgage conditions. However, now the increased key rate may stimulate potential buyers to choose deposits and postpone the purchase of real estate to a later date. Nevertheless, the majority of premium market clients prefer to invest in liquid real estate assets," concluded Ruslan Syrtsov, Managing Director of Metrium.
At the end of December 2024 Syrtsov told Izvestia that developers of mass and business segment projects in 2025 may continue to reduce prices, setting a discount on a wide pool of real estate lots. But, in his opinion, there will be no sharp price reduction, as developers need to fulfill their financial obligations to banks and maintain at least a small margin.