Coldy Real Estate Digest for August 1 - 31

• Moscow real estate market review as of August 2021: Price growth in the secondary housing market continues to slow down. According to the August results, a square meter in the "old" Moscow added less than 1%, i.e. in fact the apartment prices slowed down approximately to the inflation rate. It will be remembered that back in July the price growth rate was almost twice as high;
• according to the study, Moscow holds the seventh place in the ranking of growth of the cost of luxury real estate in 30 cities of the world, but is the leader among European cities. Capitalization growth index here was 6.6%. Lisbon with an index of 4.5% and Berlin with 4.1% are far behind on the European podium;
• in the mass segment, about 35% of buyers are willing to overpay for housing with a fine view, and a year earlier this number did not exceed 20%. In expensive projects almost all clients want to buy such apartments;
• experts of the New Buildings Department and INCOM-Nedvizhimost analytical center analyzed the demand of buyers aged 25 to 30. The survey revealed that the vast majority of clients in this age group - 70%, prefer studios and bed-sitting-room apartments, 20% buy one-bedroom apartments, and no more than 10% seek two-bedroom apartments and housing with more rooms and other formats of housing, according to the company’s press release;
• about 40% of new housing in Moscow is being constructed in the former industrial areas of the capital, said the mayor Sergei Sobyanin to Russia-1. There are a lot of industrial areas in the city where there is no production, but there are abandoned facilities or storage facilities and they need to be reorganized;
• the Ministry of Construction of the Russian Federation proposed to introduce a tax deduction for rental expenses, Interfax news agency reported with reference to the draft document. This includes the following steps: introduction of tax incentive measures, including for the creation of hired houses through the mechanism of collective investments; granting a tax deduction for the amount of rent payments; expansion of housing support measures for citizens through a long-term leasing instrument," the draft states.

Read more about the above-mentioned events and other important real estate news in Coldy's Real Estate Digest magazine.