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Moscow property market holds firm in October

Posted by Sayan Guha on Friday, 12 November 2010 00:06 | Published in Property & Building
Moscow property market holds firm in October

Intermark Savills has released their October data which found signs of revival in the market, but the firm expects it will take some time for a complete recovery. Most demand (45%) was for three room apartments.The average cost of a three room business class apartment was reported to be $605,000.

More than 27 business class residential complexes which are under construction were surveyed and the firm found 18.5% of these remained in a suspended state.

 

Apartments with an average price of $6000 per square meter were in high demand; in fact 70% of total business class apartments sold across all price bands, were in this category. The weighted average cost per square meter of all business class apartments remained unchanged for the month of October 2010 at $5800.

Real Estate experts don’t see a change in the price trend for the month of November 2010. However, there’s an important difference; in 2009 the price trend was downwards, but this year prices are showing a positive upward trend.

 

Moscow property market holds firm in October Image: FreeDigitalPhotos.net
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