The number of apartments in the excavation in new buildings of "old" Moscow decreased by 41%

The number of apartments at the excavation stage in new buildings in "old" Moscow decreased by 41% over the year, from September 2024 to September 2025. This is the lowest figure since October 2023. This was reported to Izvestia on September 28 by the analytical center of the STONE development company.

39.7 thousand apartments are currently represented on the primary market of "old" Moscow, which is 14% less than a year ago. A particularly serious reduction is observed in the complexes at the initial stage of construction. The number of apartments in the excavation decreased by 41%, amounting to 7 thousand rooms. The developers recorded the same volume of offers in October 2023.

"At the same time, the number of residential lots in buildings at the floor installation stage has increased by 1.3% over the past 12 months (to 21.2 thousand apartments), at the finishing stage — decreased by 23% (to 6.3 thousand apartments), in finished new buildings — decreased by 14% (to 4.9 thousand apartments)", — stated in the company.

It is noted that the average area of apartments at the excavation stage increased by 10% and amounted to 63 sq. m. This is due to a reduction in the share of the mass segment, where the area is usually smaller. The cost of apartments at the initial stage of construction increased by 17% to 45.1 million rubles.

"The significant reduction in supply at the excavation site is mainly due to the slowdown in the start of development projects in early 2025," says Kristina Nedrya, Director of Commercial Management at STONE (developer of the STONE Rise residential complex at the excavation stage).

She also said that in January – August of this year, sales were opened in 20 residential complexes, which is almost two times less than in the same period of 2024. Projects in the excavation remain attractive from an investment point of view, as they offer more affordable prices, and then become more expensive.

Luxury apartments have been opened: the volume of luxury housing on the market has grown by a third in a year

The average cost of such facilities has already reached 3.4 million rubles per square meter

According to the results of an analysis conducted by analysts of the Yandex Real Estate and Pulse of New Building Sales services, which was reviewed by Izvestia on September 18, the volume of new building sales carried out in the summer exceeded the spring figures by 11%. According to Belokurov, the growing interest in buying apartments may be due to a reduction in the key interest rate.

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