Building Blocks: Khamovniki, Moscow, Russia
One of the most prestigious areas in Moscow, Khamovniki is close to Moscow’s main business areas but Andrey Solovyev, Head of City Sales at Knight Frank Russia says it appeals to workers thanks to its tranquil feel.
1 minute to read
Why is it up and coming?
The district leads in terms of the sheer number of deals – one in every five units in the high-end residential real estate market is purchased here. The vast majority of buyers are acquiring apartments for their own permanent residence and a high proportion are families with children, for whom all the necessary social infrastructure is provided. Every year several new projects appear, but due to constant high demand, supply volume has not changed much over the past years.
My favourite bits
One of the iconic locations here is a large sports cluster, Luzhniki, where the decisive games in the FIFA World Cup 2018 were played. Usachevsky Market is a major draw for foodies. And an architectural stand-out is the residential Knightsbridge building – an excellent example of classic English style.
Who’s buying?
Local, German and French buyers are all represented.
What are prime yields (cap rates) in the area?
In terms of pricing, the big story of the past year has been the 12% rise in values, which means that the average price per sq m now stands at Rb825,000.