The monitoring presents the results of the residential and commercial real estate market of Moscow and Moscow Region in November 2010.
The elite primary market of Moscow enlarged with new supply in November 2010. The average price for apartments in elite new buildings grew versus the previous month, while in the secondary market it remained at the same level. Demand in the elite residential market is stable.
The Moscow Government is still the main newsmaker in the commercial real estate, the majority of initiatives of which are focused on the solution of the most acute city problems: the implementation of the "Moscow-City" MIBC project, transport problems, etc.
The opening of the "Gagarinsky" retail-entertainment center at Vavilova street became the main event of the professional retail real estate market in November. The opening of another retail center - "Afimall City" (the former Mall of Russia) in the "Moscow-City" MIBC is expected by the end of 2010.
There were no important events in the hotel market of Moscow in November. The plans of construction of hotels for long-distance truck drivers in the structure of warehouse complexes beyond MKAD were announced in the current month. Besides, it was stated that the opening of the Marriott Courtyard Paveletskaya hotel at Paveletskaya square would be shifted to 2011In November 2010 the delivery of new countryside settlements was in progress in the countryside residential real estate market of Moscow Region. It should be noted that the number of new projects delivered to the countryside residential market of Moscow Region in 2010 has already exceeded the number of new projects delivered to the market during the whole 2009 by 8%. As far as the average level of prices for the countryside residential properties of Moscow Region concerns, it remained unchanged in November 2010. However, minor price reduction could be observed in several properties due to the pre-New Year sales promotions and discounts, the amount of which varies from 5 to 30%.