The City of Moscow recently faced a rapid increase on the residential market. The market increased about six percent within the last year and is all continues as is it should continue to grow steadily for the next couple of years.
Growing housing stock caused by Moscow's territorial expansion resulted in the city seeing an increase in the number of deals involving existing residential properties last year, analysts said Monday.
The number of sold and purchased properties increased by 6 percent in 2012 year-on-year to 96,600 items, according to the Federal Service for State Registration, Cadaster and Cartography. This growth rate is likely to continue this year unless there's a negative effect from the volatility on external markets facing the debt crisis, analysts said.
The "natural demand for Moscow housing" boosted growth in the number of deals in the first half of 2012 by 5.1 percent from the same period a year earlier, according to MIEL. But the 6.7 percent growth in the second half resulted primarily from the increase in the capital's housing stock after its area more than doubled in size, the company said in a statement.
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