Residensial real estate market_March 2010

In March 2010, new apartments came into the elite primary market of Moscow. Demand continued recovery and prices showed a small but stable growth.

Despite positive dynamics in demand for lease and purchase of quality office space in March 2010 and buoyancy in the development market, some negative crisis trends remain in force.

Among the landmark events in the retail market in March 2010, we should mention the opening of the Rechnoy shopping center. Besides, Finnish Kesko Company announced its plans to develop K-Rauta DIY-hypermarkets in Moscow.

Several important agreements were signed in the hotel market, which shows that international hotel operators are highly interested in the Russian market, including regional cities.

Excitement returned to the countryside residential market of Moscow Region in the first month of spring as several developers announced their plans to implement new countryside projects. The market players say that the buying activity has intensified and the number of transactions is growing. Still, despite some signs of recovery, more economy class projects offering land plots without labor contracts keep coming into the market.