Moscow Sold 11% More Real Estate in 2020

Over 1.8 thousand real estate objects were sold at auction in Moscow for 2020, which is 11per cent more than in 2019, as reported on the official website of the mayor of the city. In total, in 2020, 930 objects were sold, 743 were leased, and 139 land plots were sold. The most popular among investors was the lease of land plots for individual housing construction. 

It is stated that compared to 2019, competition in tenders for land within Moscow has quadrupled, from 3 to 12 participants per lot, according to the Deputy Mayor of the city for Economic Policy and Property and Land Relations Vladimir Efimov.

He noted that the sale of non-residential premises increased by 77 per cent and the sale of land by 18 per cent. Of all the land plots sold, 116 were intended for capital construction, for both commercial and individual development, and the remaining 23 plots were purchased for non-capital construction.

According to the Minister of the Moscow Government, the Head of the Department of Municipal Property, Maxim Gaman, in 2020, 344 contracts for the purchase and sale of real estate worth 6.1 billion rubles with a total area of 78.2 thousand sq. m. were concluded.

Ru-Main, 21.01.2021 

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