The capital's center has traditionally remained the most expensive
The supply of new buildings on the Moscow market has grown most rapidly in the Southwestern Administrative District over the past year. The total number of apartments and flats for sale here has increased by 23%. Meanwhile, this factor did not affect the decline in housing prices: the Southwestern Administrative District is also among the three districts with the most significant price growth.
In June 2024, developers offered buyers in the South-West District about 4 thousand apartments and flats, while in June 2023 there were 3.3 thousand. Simple calculations show that over the year the supply of new housing in this area increased by 23%, which is the highest figure among all districts of Moscow.
– In the southwest of the capital, the supply of new buildings, mainly business and premium class, is increasing, – comments Oleg Kolchenko, shareholder and managing partner of the Osnova group of companies. – Some time ago, developer activity in this district was low due to the limited number of new construction sites and the impossibility of implementing large projects. Over the past three years, the situation has changed.
In most other districts, analysts noted a reduction in supply or a slower pace of its growth. In the Eastern Administrative District, the number of apartments and flats for sale over the past 12 months has grown to 3.1 thousand –18% more than a year ago. In the Novomoskovsk District, the supply volume increased to 20 thousand apartments (up 9%), in Troitsky – to 810 apartments and flats (up 2%).
In the rest of the capital, the supply decreased. In the South-Eastern District, the number of premises for sale decreased to 4.6 thousand, which is 17% less than a year ago. There were 11% fewer apartments and flats in the North-Eastern District, where their number decreased to 5.9 thousand, and in the Western District — up to 7.6 thousand.
Despite the increase in supply, prices in the southwest of Moscow have grown noticeably. In June 2024, the average cost per square meter here was 417 thousand rubles, which is 18% more than in June 2023. The leader in price growth was the Eastern District, where a square meter went up in price to 421 thousand rubles, which is 25% more than a year ago. Next comes the center of the capital: 1.38 million rubles per «square» – an increase of 19%.