Growth of prices for elite real estate in Moscow will be not less than 15% in 2008

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The prices in the elite real estate market of Moscow and Moscow region in 2008 will rise by not less than 15 %. For most successful projects from the point of view of their location and quality of construction, the growth might be by 25% as well. The information is cited in a review prepared by department of strategic consulting of company “Kalinka Realty”, informs “K2”.

According to the research, in 2007, the basic trends of Moscow region real estate market were complex development of territories for residential and commercial housing within the frames of programs on reorganization of industrial zones, demolition of shabby houses and displacement of construction activity from Moscow (10.5%) to Moscow region.

According to the company, in the first half of 2007, in the primary market of the elite housing the volume of apartments offers with the price of more than $20,000 per sq. m increased. In the second half-year, this share increased by 17%. In the secondary market, the share of the apartments offer in this price range grew by 10%. Most of them were apartments in the price range starting from $10,000-20,000 per sq.m. Up to 65% of the total offer fell within that share.

Growth of prices for elite real estate in Moscow will be not less than 15% in 2008

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