Real estate market monitoring. May 2012

The monitoring highlights the results of the residential and commercial real estate markets development in Moscow and the Moscow region in May 2012.

The supply volume in the elite primary market gained 19% by the results of May 2012 and amounted to 1, 450 elite apartments (258 thous.sq.m.). Such a considerable growth took place due to the increase of the residential primary market. In May 2012, the sales were opened in a new RC “Barrin House”. Besides, it was reported about Altimus development company’s plans on the reconstruction of a club house in 12 Ostozhenka street. A negative dynamics of average dollar prices was observed in the past month: the decline posted 2-5%. The main reason was the weakening of the ruble rate. The average prices in rubles grew, on the contrary, which was caused both by the change of the supply structure and the growth of prices for some properties, and by the fact that the prices for some properties were recorded in dollars.

The business activity in the office real estate market of the Moscow region was preserved at a high level in may 2012: quite a large number of lease transactions were concluded (see Spreadsheet), two of them – the largest since the beginning of the year: the lease of 17, 000 sq.m. in BC “Myakinino” (the tenant is the large distributor of household appliances) and the lease of 16, 000 sq.m. in BC “Alkon” (the tenant is GC Novatek).

It was reported in May 2012 about the implementation of two projects: a business center with the total area of 41.3 thous.sq.m. with underground and surface parking will appear at the place of a long-delayed construction site in Kashirskoe highway, bld.63; after reconsideration of investment contract MR Group company will implement a MFC, which will include 88 thous.sq.m. of office areas, as well as apartments, a hotel and a parking at the place of industrial zone in Fili (6 ha in Beregovoy pr.), instead of planned earlier office center measuring 378 thous.sq.m.

Two new hotel projects were announced in the hotel market of Moscow in May: the hotel in the structure of a recreational zone in Mnevniki bottom land (the tender of the territory development projects is planned), as well as the hotel in the structure of MFC in Beregovoy pr., MR Group will be the developer of this project. Another event of May was the opening in St.-Petersburg of a hotel under the new for the Russian market brand Domina Prestige. The company plans to increase the number of hotels of the chain in Russia up to 6 in the nearest years (the properties are planned for opening in such cities as Novosibirsk, Lipetsk, Kaliningrad, Tumen and Tomsk (the construction began in May 2012)).