Affordable Districts in the Heart of Moscow for Homebuyers
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Loading... - Adam Harris
- 19 May 2023
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Discover the most budget-friendly neighborhoods for purchasing property in the Central Administrative District of Moscow. Despite the district's average price per square meter being 711.4 thousand rubles as of April 2023, certain areas deviate significantly from this city center average. Realtors have identified Basmanny as the district with the most affordable housing options.
Basmanny District: Basmanny district boasts the lowest price level, making it an attractive choice for prospective buyers. The average cost per square meter for new developments in this area is approximately 433.8 thousand rubles, with an average lot price of 23.9 million rubles. Compared to the district's average, this presents a considerable cost advantage.
Meshchansky District: Following closely behind is the Meshchansky district, where the price per square meter is around 544.2 thousand rubles, and the average lot price stands at 50.2 million rubles. Though slightly higher than Basmanny, Meshchansky still provides relatively affordable housing options within the Central Administrative District.
Krasnoselsky District: Ranking third is the Krasnoselsky district, where the cost per square meter amounts to 602.3 thousand rubles, while the average lot price is 31.7 million rubles. This district offers attractive pricing and potential investment opportunities for homebuyers.
Zamoskvorechye District and Yakimanka: The Zamoskvorechye district secures the fourth spot with an average cost of 614.8 thousand rubles per square meter and an average lot price of 40.8 million rubles. In fifth place, Yakimanka presents a slightly higher price point with 704.5 thousand rubles per square meter and an average lot price of 80.9 million rubles. Both districts offer relatively affordable options within the central area.
Supply and Exposition: The primary housing market in the Central Administrative District presents ample options, with a total supply of 253.2 thousand square meters and 3.1 thousand lots. This represents a 25% monthly increase and a remarkable 121.5% annual growth rate. Of the available properties, apartments account for 64.7% of the market, while suites make up 35.3%.
The majority of the housing supply is concentrated in three districts: Presnensky (54.7%), Zamoskvorechye (10.2%), and Basmanny (9.9%). Other districts such as Tversky, Meshchansky, Krasnoselsky, Tagansky, Khamovniki, and Yakimanka contribute between 1.4% and 6.9% to the overall supply.
Increasing Supply in Other Areas: Recent analysis from the company "Est-a-Tet" highlights the areas of Moscow with the highest growth in housing supply. In April 2023, Severnoye Medvedkovo, Troparevo-Nikulino, and Airport districts experienced the greatest annual increases in primary housing supply.
Conclusion: For homebuyers seeking affordable options in the heart of Moscow, Basmanny, Meshchansky, and Krasnoselsky districts provide attractive pricing compared to the Central Administrative District's average.
