The price of real estate in Moscow may have stopped its frantic growth by the end of July, experts say. The month’s average price per square metre just topped $3,500, a one per cent rise against 1.8 per cent in June.
Top-of-the-range real estate is rising more slowly than budget housing. Market watchers put it down to more availability – Moscow has built ten per cent more stock than last year. Analyst sentiment is that prices will rise by 50 per cent year-on-year in 2006 and 2007, compared to a massive doubling in the previous 12 months.