27.04.2007
Despite the sceptical forecasts of analysts, the new build prime residential property market proved otherwise: in contrast to a slowdown in prices for affordable housing, prices for new build prime residential properties have grown by 15.4% since the beginning of the year and reached $16,860 per sq m in Q1 2007. The re-sale market saw a correction in prices during Q1 2007, with a minor increase recorded in March. Average prices grew by a moderate 0.8%. The maximal price increase of 8-11% was reported in the Arbat and Pluschikha sub-markets.
