Demand increased by only a third, and space decreased by 20%
Since 2019, new business-class buildings in “old” Moscow have risen in price by 87%, experts from Metrium companies have calculated » and Stone. Despite the rise in prices, over the past five years, the volume of demand for January-May 2024 compared to the same period in 2019 increased by 35%. The volume of supply increased by 22%. The average area of apartments in new business class buildings decreased by 20%.
New business class buildings – the most common format in Moscow. Their share is 43% of the primary housing market in “old” cities. borders of the capital. The volume of supply in the primary market of new business class buildings in the “old” Moscow reaches 20.7 thousand apartments in 129 projects.
Five years ago in the “old” In Moscow, 17 thousand business class premises were sold in 116 complexes – 18% less than now. Their share was 41% of the supply, and they were inferior in prevalence to mass projects.
There are also business class complexes in New Moscow. There are 1.4 thousand apartments in this segment for sale here in four projects, which is 6% of the total supply on the primary market in the Troitsky and Novomoskovsky administrative districts (TiNAO). In the second quarter of 2019, there were only two business-class projects in New Moscow, in which developers offered one thousand apartments.
If you look at the geography in more detail, it turns out that new business-class buildings are sold in 11 of the 12 districts of the capital (with the exception of Trinity). The largest number of apartments in this segment are located in the south of Moscow (4.6 thousand), in the west (3.2 thousand) and in the north-west (3 thousand). The geography of supply of primary business class housing is gradually expanding. Recently, the first new building entered the primary market of Zelenograd.
There are areas in the capital that are oversaturated with new business-class buildings — for example, the Danilovsky district in the Southern District (2.3 thousand premises). At the same time, there are areas with a deficit of business-class supply. In particular, the Sokolniki district (Eastern District). Over the past five years, there have been no projects with business-class apartments for sale here due to the limited land bank for new construction.
– The intensive development of Moscow districts is leading to an expansion of geography and the emergence of new business-class buildings outside the usual locations, which is associated with the comprehensive development of industrial zones and inefficiently used land plots, – says Stone's director of commercial management, Kristina Nedrea. – As a rule, mass development projects (in several stages) are implemented in such areas. Spot projects remain in short supply of new supply. Buyers' interest in them is high due to the intimacy and lack of many years of construction around them. At the same time, there are still areas in Moscow where, due to the limited land bank, only a few projects are expected to appear. A striking example – Sokolniki district, where 50% of the territory – This is a park, and there are almost no plots left for new construction due to the existing historical buildings.
The average price per square meter in new business class buildings in the “old” Moscow – 458 thousand rubles. In New Moscow, projects of this class cost an average of 255 thousand rubles, that is, 44% less than in the “old” ones. boundaries of the metropolis.
For comparison: in the second quarter of 2019, the “square” in “old” business class projects Moscow cost an average of 245 thousand rubles, New Moscow – 125 thousand rubles. Over five years, new buildings in this segment have risen in price compared to the “old” ones. and New Moscow by 87% and 104%, respectively.
Growing competition in the primary market for new business-class buildings stimulates developers to improve the product. Over the past 5 years, a qualitative revolution has occurred. Many developers, in the struggle for buyer attention to the product, began to offer options that were previously found only in premium complexes.
– The standard Euro-format layouts in business class have been replaced by apartments with master bedrooms, laundry rooms, terraces and patios, – comments the managing director of the company «Metrium» Ruslan Syrtsov. – Business class projects with penthouses are increasingly common. Additional options include lounge areas with libraries in the lobby, waiting rooms for couriers, service elevators, central air conditioning, increased glazing area and windows with aluminum profiles, etc. Business-plus projects positioned through an art component or a specific one. Complexes with similar characteristics can be implemented as business-plus projects, but such segmentation is still unusual for consumers, and the boundary between “business” and “business” and «premium» is becoming more and more eroded.
At the same time, the opposite trend is observed in the market for new business-class buildings. The offer is partly eroded by «comfort+» complexes, which developers are increasingly positioning to a higher class in order to increase marketing attractiveness.