COLDY Real Estate Digest for May 2022

• Prices are going up. In Moscow, business class apartments are rising faster in price than the mass segment. Over the year, the price has increased by 32% reaching 364 thousand rubles per square meter, according to Metrium Agency. In the meantime, the average price of a square meter in new buildings located in the “old” part of Moscow is also growing. The report issued by Inсom Real Estate records an increase by a quarter up to 370.4 thousand rubles.
• Buyer preferences have shifted. Since the outbreak of COVID-19 pandemic, the demand for European-standard 3-bedroom apartments has increased 1,5 times. However, it is still a long way to go to traditionally most popular lots. During the year, there was a 15-fold increase in the supply of economy class small-sized apartments.
• Russia is facing a shortage of data centers. In Moscow and Moscow region where the major part of the country’s computing capacities is concentrated, the scope of supply is in sharp decline. The effect of this trend on Moscow’s office market is discussed by Maxim Kavarianz, COLDY’s Chief Commercial Officer, in his column in Izvestia.
• With the keys handover coming up, Kazakov Grand Loft exclusive lots were put on private sale. These 39 sq. m lots located on floors 7 to 9 of the complex are already available for booking.

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