Sales in the elite segment of Moscow's new buildings increased 1.5 times

The sales figures of housing worth over 1 million rubles per 1 sq. m. in the primary market of Moscow at the end of 2024 exceeded last year's results, analysts of the elite real estate agency Whitewill informed Izvestia.

The rating of the best-selling residential complexes under construction for the second year in a row is headed by the project Luzhniki Collection in the Khamovniki district.

In terms of the number of transactions, 2024 exceeded 2023 by 52% - 1,196 transactions were concluded against 787, according to Dataflat.ru. The total area of sold housing in the elite segment in 2024 amounted to 145.9 thousand sq. m. against 98.2 thousand sq. m. in 2023.

According to the results of 2024, the average weighted average transaction price in the sample amounted to 1.6 million rubles per sq. m., which is 15% more than a year earlier. The average purchase budget in 2024 was at the level of 193.5 million rubles, which is 9% more than in 2023, when it amounted to 177.6 million rubles.

Luzhniki Collection in Khamovniki, Tishinsky Boulevard in Presnya and Badaevsky in Dorogomilovo are among the top-selling residential projects in the elite segment. The share of the top 10 projects with the cost of sq. m. over 1 million rubles is over 60% of the total volume realized in 2024. This is about 750 transactions with a total area of almost 88.8 thousand square meters.

"According to the results of 2024, the elite segment in the capital demonstrates impressive results in terms of demand volume. Unlike the comfort and business class, for which high mortgage rates have become a severe test, the high-budget real estate once again showed itself as the most stable segment. The entry of new quality projects into the market, expansion of the range of products on the background of special installment programs from developers - all this also allowed the elite segment in 2024 not only to maintain stable demand, but also to significantly exceed the figures for 2023. It is important to note that many clients in the high-end segment consider buying an apartment not only for the purpose of their own residence, but also for diversification of assets, especially, I would note installments, which allowed clients to both place money on deposits and buy real estate", - explained "Izvestia" top broker Whitewill Ekaterina Levina.

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On February 12 it was reported that in Moscow the cost of 1 sq. m. in new buildings of mass segment at the initial stage of construction for 2024 decreased from 317 thousand to 316 thousand rubles. In the segment of business class in December 2023 real estate objects at the stage of excavation offered on average for 414 thousand rubles per 1 sq. m., and by December 2024 their cost increased by 10% to 455 thousand rubles.