Consul Group analysts studied the commissioning of real estate over the first 8 months of 2024 in Moscow, compared with the same period of 2023.
The key figures:
The total volume of real estate commissioned over the first 8 months of 2024 was 7.9 million sq m, which is 15.4% less than in the same period of 2023.
• The steepest fall is in the apartment segment, where the volume commissioned fell by 45%.
• Commissioning of residential property also fell by 15.6%, or 1 million sq m.
• Commissioning of non-residential property showed a more moderate decline, of only 2.8%.
Instead of conclusions, we would note that, given construction timescales, and the effect of the pandemic in 2020 and of the special military operation in 2022 on investment plans and on the timing of construction projects, a market pattern of this kind may be due to many factors, which are hard to analyse and hard to use as the basis for a well-founded conclusion.
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