Real estate market monitoring.February 2011

The monitoring presents the results of the development of the residential and commercial real estate markets of Moscow and Moscow Region in February 2011.

In February 2011, the elite primary market enlarged with a new elite house "Barkli Virgin House", located in 8/9, 1^st Zachatievsky per. The average price for elite apartments of primary and secondary markets remained practically at the same level.

Both potential tenants and buyers, investors and developers were rather active in the office real estate market of Moscow in February 2011. Several new business-centers were commissioned, a number of lease transactions were concluded, as well as several large deals on the purchase of assets were announced in February.

A landmark event took place in the regional retail market in February 2011: a ceremonial opening of the retail-entertaining center "Triumph Mall" (a technical opening of REC took place in December 2010). The total area of the project equals 59, 300 sq. m., the developer is Mirland Development.

Several new hotel projects in Moscow Region were announced in February. Thus, AFI Development announced a spa-health resort in Ruzovsky region of Moscow Region. Besides, the acquisition of the "Souz" hotel (2*, 115 rooms) in Universitetsky prospect was reported.

The delivery of new countryside settlements was in progress in the countryside residential market of Moscow Region in February 2011. At the same time the average level of prices for the countryside residential properties remained at the same level. It should be noted that active recovery of the mortgage lending in the countryside real estate market of Moscow Region contributes to the promotion and implementation of the countryside projects.