In Moscow, the average cost of secondary housing has fallen by 15.5% since the beginning of the year

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In Moscow, the average cost of secondary housing has fallen by 15.5% since the beginning of the year
In Moscow, the average cost of secondary housing has fallen by 15.5% since the beginning of the year
7 November, 15:32CityPhoto: 1MI
According to a study by Est-a-Tet, the average cost per square meter of housing in the secondary market of Moscow has fallen in price by 15.5% since the beginning of the year.

“The weighted average offer price in October amounted to 438.1 thousand rubles/sq.m., over the month it decreased by 2.5%, while the correction by districts ranged from 1.1% to 2.8%. In relation to the beginning of the year, the decrease in the weighted average offer price is more noticeable: minus 15.5% in general in Moscow, ”Est-a-Tet analysts noted (quote from Interfax).

The researchers also noted an increase in the volume of proposals within the old boundaries of Moscow. In October, the figure rose to 44.2 thousand, which indicates an increase of 3% per month. At the same time, the volume of offers in the capital has grown 1.6 times since the beginning of the year. According to the report, the majority of apartment options are offered in the Western Administrative District, where more than 7,000 objects are available on the secondary housing market.

Experts noticed that the decrease in the average cost of residential real estate since the beginning of the year is not observed in all districts of Moscow. Thus, in the Northern Autonomous Okrug, the indicator remained at the same level. In the South, North-East and South-East Autonomous Regions, the average cost of apartments increased by 3.2%, 2.3% and 1.5%, respectively.

“These four districts (YUVAO, VAO, SVAO and YUAO) are the most affordable among all districts with an affordable metro network within the old boundaries of Moscow, so the correction of supply prices did not affect them”, - says the director of the Est-a- secondary real estate sales office. Tet Julia Dymova.

The researchers noted the largest decline in prices in the secondary housing market in the center of Moscow. In the Central Administrative District, the average cost of residential real estate fell by 20.9%, which is associated with a large volume of offers.

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