In April this year, experts observed a sharp drop in housing demand across Russia, averaging about 65 percent, leading to a substantial volume of unclaimed properties on the market, including in Moscow. This shift is not tied to one region alone; it reflects a nationwide cooling in buyer activity and a shift in how developers approach pricing and promotions.
Analysts note that preferential mortgage options did not meaningfully boost demand for new-build housing. Even with government-backed favorable loan programs, buyers did not rush to secure new units, suggesting that other factors such as affordability, payment terms, and long-term economic confidence play stronger roles in decision-making for buyers considering modern apartments.
The publication highlights that over the course of 2022 to early 2025, average prices for new apartments in the Russian Federation rose by roughly 30 to 37 percent when compared with the start of 2022, while prices since late 2021 remained relatively flat for a time. This price trajectory has contributed to developers recalibrating expectations and adjusting strategy as markets shift from rapid growth to consolidation and inventory management.
As a result, developers have begun offering discounts and promotions on illiquid properties to move stock and stabilize cash flow. These tactics aim to attract buyers who previously hesitated and to prevent further stagnation in markets with limited liquidity, while still addressing the realities of financing costs and buyer risk tolerance.
Industry voices suggest that although borrowing costs have decreased and some revival in demand is seen, price levels have not yet fully rebounded to pre-downturn peaks. The market remains cautious, with price dynamics showing resilience in some segments yet stubborn inertia in others, according to market analytics and ongoing monitoring by sector observers .
In recent months, certain municipalities, including Podolsk, Balashikha, and Domodedovo, have emerged as benchmarks for comparatively lower entry points in new housing. This divergence underscores a broader regional pattern where location, project timing, and local infrastructure influence price competitiveness and buyer appetite .