If you're looking to negotiate a lower price, feel free to haggle.
Laid-Back Chat on Real Estate Market Trends in Russia
Get the lowdown on Russia's real estate market in this informal chat!
In Q1 of this year, the cost per square meter for secondary housing in 70 significant Russian cities experienced a 1.8% increase. April saw a minuscule 0.3% rise, according to experts from the online property portal "Mira Kvartir."
Fun Fact: Want to know which cities led the price increase? Check out the top gainers: Kursk (+14.4%) and Izhevsk (+6.7%). While prices dropped in the sunny Krasnodar (-4.5%). Moscow only managed a more restrained increase of +3.7%.
The video "Towel on the Neck from Crimea: Is it Worth Going Before Summer Heat and Crowds?" from Society Report might catch your interest! Turns out, secondary housing inventory jumped by 19% in April as property owners reintroduced their homes to the market in the hopes of renting them. But as Pavel Luzhenko, the CEO of "Mira Kwartir", points out, rolling out the welcome mat for tenants isn't as straightforward as it seems. Still, transactions are happening as new constructions continue to resist pricing drops, and more buyers are flocking to the less expensive secondary market.
So, how much are these secondary homes truly selling for? Well, according to Roman Vikhlyantsev, Vice-President of the Moscow Real Estate Guild, buyers in Moscow can negotiate discounts of half a million rubles for one-bedroom apartments and up to a million for two or three-bedroom apartments. However, sellers typically draw the line at that million mark. The supply keeps growing, but demand hasn't kept pace. Deals are still being made, despite an approximately 15-20% drop in the number of transactions compared to last spring. The secondary market is awash with "alternatives" – around 80% of all transactions, where an existing apartment is sold, and a new one bought with a small extra payment. In summary, the market's adaptable, but things could be better.
Top Cities Where Secondary Housing Prices Soared in Q1 2025
Here are the cities with the highest price hikes for secondary housing square footage:
Priciest Cities
| City | Price per sq.m. (Q1 2025) ||---------------------|------------------------|| Kursk | 113,481 (↑14.4%) || Izhevsk | 96,927 (↑6.7%) || Saransk | 99,334 (↑4.9%) || Orenburg | 88,035 (↑4.5%) || Cherepovets | 87,535 (↑3.9%) || Kurgan | 86,846 (↑3.8%) || Chita | 132,840 (↑3.8%) || Barnaul | 121,434 (↑3.8%) || Moscow | 362,970 (↑3.7%) || Kaliningrad | 133,593 (↑3.7%) |
Cheapest Cities
| City | Price per sq.m. (Q1 2025) ||--------------------|------------------------|| Krasnodar | 131,846 (↓4.5%) || Murmansk | 108,658 (↓1.2%) || Mahachkala | 113,698 (↓0.8%) || Arkhangelsk | 110,296 (↓0.6%) || Surgut | 124,007 (↓0.3%) || Ryazan | 94,602 (↓0.3%) |
(Source: "Mir Kvartir")
Remember, these figures focus on the secondary housing market (resale apartments and houses). Moscow and Saint Petersburg maintain their status as the most expensive markets due to high demand and scarce supply. Regional cities present varying prices due to local economic conditions. If you need more specifics or trends over time, don't hesitate to ask!
Hope this helps make sense of the current real estate situation in Russia! 🇷🇺🏠🚀
- In light of the Q1 2025 data from "Mir Kvartir," investments in the real estate market of secondary housing in cities such as Kursk, Izhevsk, and Moscow are showing significant growth.
- Amidst the growing secondary real-estate market, business opportunities in finance and property may arise due to the ongoing price increases and increasing demand for affordable housing options in various Russian cities.
