OREANDA-NEWS  The average cost of housing in the primary market of the Central District of Moscow for the first time exceeded two million rubles per square meter— which is 33.3 percent more than a year earlier. This was reported by Vedomosti with reference to a study by Metrium.

In August 2024, this figure was at the level of 1.5 million rubles. Experts noted that the growth rate of prices in the city center turned out to be the highest in the history of the segment of new buildings. The previous psychological milestone of one million rubles per square meter was overcome by real estate in 2021.

Real estate market experts interviewed by the newspaper cited rising prices for luxury new buildings as the reason for the significant rise in prices. According to Anna Radjabova, director of the Metrium Premium luxury real estate department, a square meter in new business-class apartments in the Central Administrative District increased in price by 7.9 percent over the year, to 543 thousand rubles, in the elite segment — by 30.5 percent, to 2.18 million rubles. At the same time, the value of de luxe real estate is growing at the fastest pace. Ekaterina Borisova, Director of Development at Rariteco, said that such projects have added an average of 3.2 million rubles per square meter.