Sales of new buildings in Moscow fell by 63% during the year. In October only about 900 apartments were sold. Buyers are frightened by high prices and expensive mortgages: the average cost of housing has already reached 21.9 million rubles.
At the same time, the price per square meter increased by 15% during the year and amounts to 442 thousand rubles.
The situation worsens due to the lack of supply: new luxury residential complexes have not entered the market for 14 months.