In Moscow, there is an increase in demand for penthouses with an area of up to 150 square meters. m, experts from the Whitewill company told Izvestia on November 21. The trend can be seen in both residential complexes and apartments. At the same time, there are practically no offers from developers on the luxury housing market, analysts added.
“At the moment, such proposals are still rare. The share of small penthouses from the total supply in high-budget complexes is 14%. Despite the fact that the total supply volume on the premium and de luxe penthouse market at the end of the third quarter of 2023 amounted to 117 lots,” the company noted.
According to real estate market experts, the shortage of supply of such options is due to several reasons. On the one hand, this is due to the unwillingness of developers to reconsider the size of penthouses in their projects – this type of housing is traditionally associated with excess space. As a rule, the generally accepted area in this segment is from 200 square meters. m, and 38% of the total falls on lots measuring 200–300 sq. m. m.
On the other hand, the reason is the rise in real estate prices, coupled with changes in buyer requests towards a reduction in living space, which is also due to the trend towards space optimization, analysts said.
At the same time, they explained that compact penthouses retain all the other characteristics and advantages of traditional sizes: panoramic views, increased ceiling heights and windows, convenient location within the city.
According to Whitewill, wealthy young people with successful careers and leading an active social lifestyle are mainly interested in such penthouses. In addition, buyers are considering such housing for seasonal or temporary residence.
The trend towards growing demand for compact penthouses is also confirmed by developers selling housing and apartments in the elite segment.
“Now requests for penthouses often come from those who do not plan to live there permanently. These people are looking for an ideal place for business meetings, private events and friendly parties. A central location, a unique architectural and design solution, excellent views, isolation and personal space are important to them,” said Yunna Ervits, owner and director of IQ Estate.
Earlier, on November 16, Yandex Real Estate analysts told Izvestia that new buildings in the center of Moscow in 2023 became 74% more expensive than primary real estate in other areas of the capital within the Moscow Ring Road. Last year this difference was 48%. The difference in the average cost per square meter of primary housing inside the Moscow Ring Road (not taking into account the center) and outside it has also increased: the price gap in 2023 was 69%, while in 2022 this figure was 60%.
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