Real Estate and Prices: Buyers of Elite Apartments in Moscow Prefer Individual Finishing
13 February 2014
Real Estate and Prices: Buyers of Elite Apartments in Moscow Prefer Individual Finishing
Buyers of super-premium real estate in Moscow, unlike residents of New York, London or many other western capitals, do not seek to acquire an apartment with finished interior but are more keen on a full individualisation of the apartment. Russian clients do not like when their apartment is similar to the neighbouring one.
During the last few years there has been a boom of offers in Moscow for residential real estate with a full interior finishing – both in the business-class and elite segments. The practice which is widely spread in western countries, where even the most prestigious development projects have finishing, has not yet received a relevant support in Russia. For the mentality of a Russian client the convenience of buying an apartment which is completely ready for moving in is not a principal criterion.
“According to our statistics up to 90 % of the buyers in the super-premium segment in Moscow do not want to have a housing estate which even approximately resembles a neighbour’s apartment, Timur Sukharev, commercial director of “Restavratsia N” company says, - our client needs an absolutely different accommodation where design decisions and finishing details are adapted to their tastes and preferences. Buyers of the elite real estate want to have an exclusive “key-to-the-door” design up to napkins”
An optimal variant on the current elite real estate market of Moscow is an apartment without finishing (shell&core) with the option of professional decoration of the living space according to the client’s taste. This variant is offered in the premium residential blockKnightsbridge Private Park, where any customer can choose an individual finishing and planning design for his apartment from a whole range of offers from western designers. For example, the cost of an individual design finishing made by the Queen’s nephew UK Queen's nephew Viscount David Linley will be not less than 20 % of the apartment price in the block (not less than $4000 for 1 m2). Repairs can be done next year when the residential block is ready.
According to the predictions of specialists from “Restavratsia N” company the trends aimed at the individualization of apartments will be developed on the real estate market of Moscow. The offers which will combine wide opportunities for self-expression of the customer in terms of planning and design solutions, top quality of load-bearing structures and materials and ultramodern technological content shall be in demand.
Source: Real Estate and Prices