New Moscow: the correction is going on?

Moscow real estate market is the primary as opposed to “secondary” failed to provide decent resistance crisis impact and solid dipped in price. However, according to some analysts, the situation today is more or less stabilized and the dynamics of a major price correction in the market of new buildings is not наблюдается. Средневзвешенная bid price on the primary housing market in the capital (including elite objects) in February increased by 2.1% to $ 198, 0 thousand rub. / sq. M (5530 USD. / sq m.), according to Julia Geras’kina, Director of Sales, “New Miel.” According to experts, the maximum increase in prices in February marked in new SWAD (8.9%). In SEAD recorded a decline of 7.0%, and here is the lowest offer price for the administrative districts in Moscow – 133.2 thousand rubles. / Sq. M is the most high prices traditionally celebrated in the Central District – 451.5 thousand rubles. / sq. M However, according to analysts the company “Incom Real Estate”, in addition to the Central District of average prices rose in the South – by 2.9%. Each segment of the Moscow real estate in its response to the current economic situation. Thus, according to Julia Geras’kina, the maximum reduction in the average level of prices observed in new economy class (-8.8% in January), where the offer price on average amounted to 108.2 thousand rubles. / Sq. M “In new middle-class and business rates have not changed,” – she said. According to Maria Litinetskaya, CEO of Blackwood, in the elite market in March 2009 there was a positive trend in prices: more than 3% in the primary market – up to 17, 510 dollars. / Sq. M. “At the elite market, as well as the housing market in general, the stabilization. However, the decline in prices in this segment is much less than that due to its higher stability, so the depreciation of the dollar in March led to a positive price dynamics, “- said Maria Litinetskaya. According to them, the average price in the primary housing market in Moscow by the end of March 2009 amounted to 5250 dollars. / Sq. M At the end of the month dollar prices fell by 4.5%. Gradual stabilization in the market celebrated by all analysts surveyed by us. According to Yulia Geras’kina, objects that were on sale, still on display. Prices remained at the level of December 2008, while buying activity is stable enough. In this season of fabulous discounts that are granted in December 2008 – January 2009, in her view, is over. “The average size of the discount, which today can expect to buyers – 5.10% to a fixed ruble prices,” – says ekspert. Chto for predictions, despite some stabilization in the housing market, according to experts of Blackwood, further price correction in the near future is inevitable. “At the same time the primary market is likely to be” declining “faster than the secondary, due to acute shortage of resources for developers and higher risks for consumers – says Marie Litinetskaya. – While it is generally possible to note an increase in demand, which can significantly “soften” the pace of price correction. ” On a possible price drop says Engel and Alexander, director of new construction group of companies “Moscow Mortgage Centre”: “Given the high inertia of the market, now we can expect a smooth adjustment for most developers did not give an adequate price to the market that meet today’s realities. In the summer market is traditionally less active than in the winter and spring, due to this correction will continue.