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Secondary Market prices increased by 10%
In January demand for the secondary real estate increased by 30%. Proposal, on the contrary, was reduced by 18%. Record low value of a quantity of proposal - about 10 thousand it was observed in December. It was not the same since 2000. In January this number increased by more than 50%.
According to data, a quantity of apartments, proposed to sale in January, was reduced on the comparison since January by 21%. However, the number of the apartments offered for the first time for sale increased.
The time which apartments are staying on the market was reduced by half, now it is 45 days. If earlier buyer could quietly examine 10 versions of apartments, today he makes selection after the survey of 3-4 apartments.
in January the mean level of prices was $5100 “for the square”. Increase - by 3,6%. Most noticeably grew prices in business (3,8%) and economy-class (3,7%). Elite apartments grew up a little - by 1,6% on the comparison since December. During the winter the cost of secondary apartments grew by 5-10%. The increase of 7-10% is also verified by real estate specialists of several companies.
Newly build a little slower than secondary:
Following the trend of the secondary market, the primary market of newly build properties has also awoken: in January the number of calls from clients increased and the number of sale deals being made also increased. In January the average price of the square meter was 4487 USD, which is 3,9% more than previously. For the two weeks of February this number increased again by 4%. The average increase for the newly build properties increased by 5-7 %.
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