Moscow residents are choosing to buy smaller apartments, Director of the Etalon Group real estate developer’s Moscow office Vasily Fetisov said addressing PROESTATE International Real Estate Investment Forum on September 18.
“The first trend in Moscow’s residential real estate market is purchasing apartments of a smaller area. This is more profitable for clients as now they can pay less for an apartment that has the same range of amenities,” the expert noted.
According to Fetisov, the second trend is clients’ interest in apartments with combined kitchen and living room interior design and a separate bedroom.
“This way customers receive a large space for communication with the family and a separate room for sleep,” Vasily Fetisov emphasized.
The third trend, the expert said, is a greater range of apartments offered for sale. “Normally, today one block of buildings has at least 20 different apartment layouts, ranging from studios to multi-room apartments – although it should be noted that studios are becoming less popular.”
“The fourth trend is an increasing number of turnkey apartments offered for sale. In newly constructed residential buildings, the white box type of finish is becoming increasingly popular. A white box construction space includes walls prepared for covering, as well as basic finished ceiling, plumbing fixtures and interior doors.”
Finally, the fifth trend is a longer period of time required for the sale and purchase. Previously, the process took about 30-40 days in the mass market for economy class and high-end apartments, while now it takes 60 days.
“Before making a purchase, clients thoroughly examine offers in the market and analyze what competitors can offer, and often address qualified experts for help,” Fetisov concluded.