Realty in Moscow business-class buildings fall in price by 24% in 2009

In 2009 prices for realty in new business-class buildings went down in price by 24% in dollars, and approximately by 20% in rubles. These data is presented by IntermarkSavills analysts. Decrease of prices for residential real estate, stated by developers in the early 2009 embraced more than a half of objects of this segment.

Approximately 40% of projects fell in price less than 20%. In 13% of projects the prices went down by 30% and more. In 30% of projects the prices for a square meter didn’t changed considerably. In other residential business-class complexes mid-market prices fell down comparing with the early 2009 by 5-15%.

Experts as well stated in the account that during 2009 year prices for business-class realty decreased in all districts of the capital. The most considerable decrease is registered in the Central (40%) and South-Western (35%) Districts. The highest prices for business class realty are registered in Central District (5,9 thousand USD for a sq.m), Western District (5,9 thousand USD for a sq.m) and in Northern District (5,7 thousand USD for a sq.m).

Minimal prices are registered in the Eastern (4,8 thousand USD for a sq.m ) and Southern (3,8 thousand USD for a sq.m) Districts. Experts forecast the decrease of prices by 10-15 % for business-class realty in the first half of 2010 year. In the 2nd half they expect stabilization in this segment.

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