The number of real estate transactions in the high-budget segment of Moscow decreased by 53%

The number of real estate transactions in the primary market in the high-budget segment of Moscow decreased by 53%. The analysts of the Metrium company told Izvestia about this according to the results of the first quarter of this year.

According to the research, a total of 2.1 thousand lots in 65 projects were exhibited in the high-budget segment. The weighted average price per square meter was 2.41 million rubles. A total of 109 equity participation agreements were registered, the number of which decreased by 53% in the quarter and 54% in the year.

At the same time, the volume of supply in the deluxe class remained virtually unchanged during the quarter, while in the elite class it increased by 8% due to the launch of sales of new projects and increased exposure in previously implemented projects.

"A square meter in the high-budget segment (elite and deluxe class) now costs an average of about 2.5 million rubles. However, over the past year, the indicator has hardly changed, while in the premium class it has grown by 18.2%, for the first time overcoming the 900 thousand rubles milestone. In my opinion, there are no prerequisites for further significant price increases in luxury projects in the near future. In fact, now a kind of "price ceiling" has been established in the high—budget segment, the indicator has reached a plateau," said Yana Sosoreva, Director of Strategic Development at Grad Development.

Anna Radjabova, Director of the Metrium Premium Luxury Real Estate Management, noted that the dynamics of the overall weighted average price in the segment is partly statistical in nature. According to her, over the past year, the elite class has increased the share of supply (in square meters) by 9 percentage points to 60%, displacing the "deluxe" in the structure (-9 percentage points). At the same time, within individual classes, quarterly growth was about 1%, and the annual growth was in the range of 6-7%.

"According to the results of the first quarter, 109 contracts were concluded (-53% for the quarter) with a total area of 12.5 thousand square meters (-53%). The decrease in the number of transactions is influenced by a change in the structure of the exposition: the volume available for sale is realized in facilities at late stages of construction, where the price per square meter has already increased relative to the initial values. An additional factor of pressure on demand is the revision of the cadastral value: in some deluxe class real estate, the cadastral price per square meter has approached the market, falling within the range of increased taxation, while demand continues to be restrained by close attention to large transactions," Radzhabova summarized.

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