Price of elite suburban real estate falls sharply in Moscow

Meanwhile, economy-class townhouses increased in value The price of elite suburban real estate in Moscow has nearly halved since last year, according to a study published on Thursday by INCOM-Nedvizhimost real estate agency. Data shows that the median price for a luxury townhouse in the countryside near the capital has dropped by 45% year-on-year, from 131.6 million rubles ($1.6 million) to $890,000. Elite houses currently make up only 3% of the housing demand in Moscow’s suburbs, with the market dominated by requests for economy-class homes (78%). The average price tag for an economy-class suburban house jumped b

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