Moscow real estate agencies report an unprecedented drop in demand for luxury real estate. Prices for both new buildings and the secondary market have reached an anti-record of the last five to seven years.

Over the past month alone, a square meter of luxury housing has fallen in price by 2.6%, and the cost of comfort class is also falling, and real estate business segment.

“In the period from September 21 to mid-November, the demand for expensive housing collapsed by 43%, which is comparable to the market collapse in April this year,” said the head of Apple Real Estate. Danila Savchenko in an interview with the publication NEWS.ru.

According to market participants, developers are ready to provide record discounts, which reach 20-25% for premium housing.