Overview of Moscow’s residential housing market
Comfort-class housing is the key real estate segment within the “old Moscow” area. The demand for comfort-class flats surged in 2020 driven by lower mortgage rates and the subsidised mortgage programme available to borrowers. The new housing hitting the market helped offset the strong demand, keeping the total supply at 2020 levels.
the share of sales of new comfort-class housing funded by mortgage loans increased by 20 p.p. since 2018. This growth was driven primarily by lower mortgage rates and availability of the
Reduced mortgage rates boosted demand in comfort-class causing prices to surge by 15.9% in 2021. In the reporting year, the offer price reached an all time high of RUB 273 thousand per sqm.
In terms of supply and demand structure, property distribution by area is fairly even — supply is matched by demand for properties with an area of up to 30 sqm and those of
Сomfort-class housing with an integrated fit-out also enjoyed a strong demand, which increased by 12 p.p. year-on-year.