Restavracia NBecame Participant of Roundtable Discussion “The Day After Tomorrow on Moscow Elite Real Estate Market”
10 December 2012
Restavracia N Became Participant of Roundtable Discussion “The Day After Tomorrow at Moscow Elite Real Estate Market”
Timur Sukharev, Chief Commercial Officer of Restavracia N, took part in the roundtable discussion of the year’s results and prospects for the development of elite real estate development organised by Contact Real Estate and Welhome. The event took place on December 11 at Lotte Hotel Moscow, the moderator of the meeting was Andrey Voskresensky, Editor-in-Chief of Kommersant Dom.
According to the opinion of the majority of participants in the roundtable discussion, the expiring year has become one of the most successful for the post-crisis elite real estate market both in terms of demand indicators and implementation rates of current projects and of high-quality supply volume. An increase in the development area and an integrated approach to space management in new projects, qualitative changes in the interior of elite residential complexes and as a consequence, principal redistribution of demand for primary market projects have become the dominant trends in the elite real estate. On the basis of these tendencies, the Khamovniki district was recognised as the most attractive and fastest growing.
The demand criteria have also changed. As Timur Sukharev, Chief Commercial Officer of Restavracia N noted, one can trace on the market an obvious tendency for return migration of elite real estate buyers from the countryside. It is related both to peculiarities of traffic in the Moscow region and advantages of living in the centre of the capital and to qualitative development of supply. “People need some equivalent to countryside style of life but within the boundaries of the Central Administrative Area, with well-developed infrastructure in the private area of a residential complex. That is why integral features of modern projects are the following: a vast development area with professional landscape or even a private park, an extended set of infrastructure facilities such as a fitness centre with a swimming pool, a school, a kindergarten, etc.,” emphasised Timur Sukharev. “The customer has become very sophisticated, and that dictates to developers new requirements for construction, from choosing only the most eco-friendly and high-quality materials to inviting distinguished designers for finishing public spaces or apartments. That is the approach we apply in the course of implementation of the project Knightsbridge Private Park.
As forecasts for the next year there were named moderate price growth at the level of 5-7% for the year, primarily maintaining of the current rates of sale of elite complexes with a slight correction for increase, orientation of demand towards primary market projects being at the initial stage of construction.
Representatives of such companies as Gals-Development, Don-Stroy, Sadovye Kvartaly, Guta Development also took part in the round table discussion.