250 apartments were sold in Central Administrative Region of Moscow in the first quarter of 2012

According to the report made by Contact Real Estate, published in RBK Real Estate site 250 apartments were sold on the primary market in the first quarter of 2012.

Total budget made up 430 million USD. Experts stress on the fact that such dynamics wasn’t registered in any quarter of 2011 year. Analysts explain that traditionally in the begging of each year real estate market demonstrates slackening and in next following several months both sellers and customers just start “moving” on the market.

Despite traditional state of affairs the first quarter of 2012 was marked by considerable sale volume, in spite of political tensions along with opposition protest actions. According to experts the average price of a sold apartment made up 1.6 million USD. As usual objects in Sky Hills, Anglisky Kvartal, Sadovye Kvartaly, Italianskye Kvartaly were of great demand. Also objects in high-budget residential complexes as Barli Virgin House, Granatny 6, KnightBridge Private park, Ostozhenka Park Palace were successfully sold.

For the reason that the sale rates were huge, total offer volume of the primary market decreased making up 174.5 sq. m. At this the prices for the offered objects were increasing and made up a total budget 2.7 billiard USD. In some residential complexes prices rose by 30%.

Average offer price in the 1st quarter of 2012 increased by 4.4% making up 16 513 USD for a square meter. Customarily sale leaders were areas of Patriarshy Ponds, Ostozhenka and Arbat. Analysts forecast 7% price rise for residential real estate till the end of the 2nd quarter of 2012 year. Probably sale rates will decrease gradually as there are left less and less of cheap offer (up to 1mln. USD).

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