FX.co ★ Five dominant trends in high-end real estate market

Growing supply of luxury property

According to experts, there has been an increase in the variability of elite housing supply. Since the beginning of 2019, the number of new units in the segment has increased. In addition, experts note that the number of business and premium properties has also grown. As for the business-class residential complexes, about 100 projects are under construction. As for the primary high-end real estate, about 60 projects are currently being realized.

Strongest demand for apartment complexes

According to experts, the number of luxury apartments continues to increase. The premium segment is gaining momentum as well. Experts have calculated that the current demand in the apartment houses segment reaches 75%. In 2018, Moscow started construction of 35 new apartment complexes, half of which are premium and elite class units.

Popularity of houses with interior decoration

Experts record an increase in the supply of luxury dwellings with finished interior decoration. This year, developers began to offer interior decoration six times more frequently than a year and a half ago. In the premium segment, apartments with interior decoration account for 20%, while in the elite segment, their share reaches about 26%. Analysts attribute this trend to customers' rejection of long-term home renovation and their desire to move in sooner.

Demand for renovated historical buildings

Experts note that there is an ongoing tendency to renovate historical buildings. Among the new offers in the elite property market, they are becoming leaders in sales. In 2017, only two historical buildings were to be reconstructed, while in 2018, the number of such objects increased to nine. In 2017, there were six low-rise blocks among such new projects, and last year, their number reached fourteen.

Growth in buying activity

This year, consumer activity has surpassed its record high. Last year, the number of registered contracts for joint participation in construction of premium and elite apartments increased by 40%. In February 2019, the demand level grew by more than 15%, although elite housing prices rose by 2-4%. During the period from December to February 2018-2019, sales volume in the primary elite market amounted to 20.6 billion rubles, 20 percent more than last year. Experts expect this trend to persist throughout 2019.