Point Estate: demand from expats for luxury housing in Moscow fell by 70 percent 
Since the beginning of 2021, demand for luxury housing in Moscow on the part of expats fell by 70 percent, according to the report of the real estate agency Point Estate, received by the editorial office of “Lenta.ru”. Now foreigners account for no more than 5 percent of transactions in this segment. About 10 percent of expensive apartments are bought by immigrants from the former CIS countries.
According to realtors, foreigners began to abandon the idea of purchasing apartments in Moscow largely due to the fact that during the pandemic, about 30 percent of foreign companies transferred employees of their Moscow offices to work remotely. As a result, many expats returned to their homeland.
The average budget for a deal with expats in the premium and elite segments has not changed and reaches 100-150 million rubles, experts calculated. Such clients most often choose apartments with an area of 150-200 square meters in complexes with hotel services on the Arbat, in the Moscow City business center or in the Khamovniki district.
Realtors do not have see. The epidemiological situation remains difficult, they explain.
Earlier in November, it became known that Moscow entered the top five cities in the world with rapidly rising housing prices for the rich. The first place in the rating was taken by Miami, the second – Seoul, the third – Shanghai, the fourth – the Russian capital, the fifth – Toronto.