Secondary market overstocked, but prices continue to rise

15.11.2010 07:10
Real Estate Market Analysis | Secondary market overstocked, but prices continue to rise Last October 2010 prices in the secondary market of Moscow showed an increase. But, in fact, the magnitude of this growth is rather insignificant. Thus, compared with September this year, the offer price in rubles increased by 0.7% to 167.2 thousand rubles per sq. m. In the U.S. growth rate of 1.1% and the price reached $ 5,497 / sq. m. This is stated in the report, "Analytical Consulting Center Miel.

The volume of apartments for sale, increased by 7,8% to a record year for value - 48,900 flats
The volume of apartments for sale, increased by 7,8% to a record year for value - 48,900 flats
The volume of apartments for sale, due to the rapidly grown sales activity, increased by 7,8% to a record year for value - 48,900 apartments. Thus, the present value figures to hang fixed by the market at the beginning of the year, by 5,3%. The proportion of new sites has increased by six points and amounted to more than one third of the total market volume sold apartments.

In an open sentence continued to increase the share of one-bedroom apartments, which ultimately amounted to a quarter of total supply. At the same time still remains a low proportion of housing supply and the economy-affordable apartments secondary category of comfort.

Last month, the highest increase rates were characteristic of the middle class apartments (1.2%). Economy-class housing has risen in price by 0,7%. But the flat business-class price did not change.

Relative to the size of apartments, the largest growth was recorded for 1-room apartments (1.0%) and 3-room apartments (1.3%).

Positive price trends noted in the sleeping areas of the city, whereas in the prestigious districts of the capital prices have not changed.

"October was marked by more activity on the part of sellers rather than buyers. The volume of apartments for sale on the regular market in Moscow has reached record levels last year. Meanwhile, the offer price since the beginning of the year grew by 9,3%, thus returning to the values fixed on the market last spring - said Vladislav Lutskov, CEO of ASC Miel.

"Today there is even a little, but the price increase, which indicates a further recovery in the housing market. On the one hand, we find a balance between supply and demand, and on the other hand, the increasing volume on the regular market, partly compensates for not very large supply of primary objects" - said Alexei Shlenov, CEO of MIEL-Brokerage.
Content tags: Overseas property Housing
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