Volume of ready supply in Moscow is about 20% from the same period in London

Chesterton's experts have prepared a report on the comparison of real estate markets in Moscow and London, analyzed the volume of supply and demand in the two capitals, as well as the dynamics of prices. Moscow real estate secondary market is experiencing shortage of projects: the volume of supply of finished elite housing in Moscow is 4-5 times lower than in the British capital. Thus, by May 2010 the final proposal of premium real estate in Moscow decreased and is now no more than 500 objects. The volume of luxury apartments in London more: 2300-2500 Objects of the secondary market, or apartments after repair or reconstruction. The average cost of square meters. m Moscow luxury housing on the secondary market is $ 26.1 thousand., in London, the figure is $ 28.3 thousand. London is experiencing a lack of new development projects in the center, it is currently possible to allocate no more than 10 new construction projects, among which the largest are the One Hyde Park, projects developer St George, a number of projects in the areas of Chelsea and Fulham. In Moscow, the main supply of apartments in buildings under construction (up to 700 apartments with input horizon in operation until 2013) is concentrated in several major development. In the segment of luxury homes under construction Moscow at a price considerably inferior to the British - $ 12.3 thousand per sq. M. m., compared to $ 19.2 thousand per sq. m. m. As of mid-May. "In our view, in the long term, Moscow may become the" second London "is in terms of real estate development. Already viewed the general trends, with some lag in Moscow, but we must not forget that the capital of the UK property market was formed decades. As for prices, then for the next two years we expect growth in these cities the average prices of at least 10% per year ", - says Ekaterina Thain, partner, director of residential real estate Chesterton department.