In October-November 2021, about 4400 new apartments were sold, which is 17% higher than in 2019 (+2% YoY). The share of new properties accounted for 63% of total transactions, - according to TBC Capital.
As of the report, about 2600 old units were sold in October-November 2021. This figure is 10% higher than in 2019 (+37% YoY).
The mix of transactions is basically unchanged for both, new and old apartments. The difference is in the distribution of smaller (<50 SQM) and midsize (50-70 SQM) apartments. Small properties have a higher share in older apartments, while for new properties the mid-sized apartments take the majority, taking up 37% of the total area sold in the eleven months of 2021.
Average sales-weighted prices in USD terms are at their highest and continue to increase. In the period of October-November 2021, the price for new apartments stands above its pre-pandemic level by 11% (+12% YoY) and for old apartments by 15% (+17% YoY).
