In August 2024, there were 1,279 apartments and flats with prefurnished or white box interiors available for sale in premium new construction projects, compared to 1,951 in August 2023. At the same time, the supply of unfurnished apartments increased from 2,160 to 4,296, while the supply of finished apartments remained almost the same at 787 in August 2023 and 750 in August 2024. As a result, the market structure of premium new construction projects has changed, with the share of white box interiors decreasing from 40% to 20%, the share of unfurnished housing increasing from 44% to 68%, and the share of finished interiors decreasing from 16% to 12%.
In other segments of Moscow's real estate market, such as mass market, business class, and high budget, the supply of apartments with white box interiors has increased by 25%, 65%, and 77% respectively in the last 12 months. However, the supply of unfurnished apartments has also increased in all segments, while the supply of finished interiors has decreased. The decrease in supply of housing with prefinished or white box interiors in premium new construction projects can be attributed to high demand. From January to July 2024, over 1,100 fractional ownership agreements were signed for apartments with white box interiors, compared to only 550 in the same period of 2023.
"Apartments with white box interiors are the optimal choice for many buyers in premium new construction projects. Clients in this segment often prefer to implement their own design projects, developed in collaboration with designers. They often want to change the layout of the apartment, so the ready-made solutions offered by developers don't always suit them. The white box finish allows them to save time, money, and effort on rough construction works," said Dmitry Golev, Commercial Director of Optima Development.
The overall trend in Moscow's real estate market is a decrease in the supply of apartments with finished interiors and an increase in the supply of unfurnished apartments. The average price per square meter in the mass market segment in August 2024 was 330,810 rubles, according to Metrium. In the last month of summer, there were 22,050 lots in 101 projects, including 19,800 apartments and 2,200 apartments.
© Iz.ru
