Average price in secondary real estate market in Moscow increased by 4.5%
According to the Dailystroy analytical center, in late April the average price for sq. m. in the secondary market of Moscow has grown by 0.8%. Thus, the average price for accounting date totaled $ 6,594 for sq. m. Within April, the average price has grown by 4.5%, and from the beginning of year growth has made 16.4%. Within April the average weekly rates of prices were reduced twice towards March, from 1.4% weekly by 0.7%. In May, the most probable case scenario in the Moscow real estate market is strengthening of the tendency to keep the process down.
The moderation processes in Moscow meanwhile are not reflected to the Moscow region real estate. The average price for sq. m. behind the Moscow Ring Road (MKAD) within a week grew by 0.9%. Considering the price growth rate by zones from MKAD, the average prices for housing varied as follows:
1st zone –the price rise by 0.7%, up to a level of $3,973 for sq. m.
2nd zone – the price rise by 1.2%, up to a level of $3,223 for sq. m.
3-rd zone – the price rise by 2.2%, up to a level $2,564 for sq. m.
In the long term, the Moscow region real estate expects the same processes, which are now taking place in Moscow. Growth rates will slow down, and the changes will be smoother.
12:33 05/05/2008
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