Secondary housing prices in Russia have begun to climb again in several major cities, with the most notable uptick reported in Omsk where the average price per square meter rose by 3.7 percent. Analysts at the real estate firm Etazhi pointed to Omsk as the leader in the latest month’s secondary market gains, with Chelyabinsk following close behind at 3.3 percent and Yekaterinburg rounding out the top three with a 2.8 percent increase. While these shifts mark a positive turn for the sector in some regions, they also reflect divergent local dynamics across the country as buyers show renewed interest against a backdrop of limited new housing supply.
According to the same market observers, Moscow did not experience the same rapid ascent. Its price move was modest, at around 0.4 percent, while St. Petersburg typically experiences a slight drift downward, with the average square footage cost easing by roughly 0.1 percent. Taken together, the broader pattern indicates that overall price momentum remains positive in many of Russia’s large urban centers, even if the pace varies from city to city. (Source: Izvestia; Etazhi)
Alexander Ivanov, a leading analyst at Etazhi, emphasized that buyer activity has picked up in recent months. He noted that supply in the market has not kept pace with demand, resulting in upward pressure on prices in several cities. This dynamic is consistent with the idea that a tighter inventory can translate into price resilience when demand remains elevated, even if overall market activity is not uniformly brisk across the country. (Source: Etazhi)
On May 8, Kommersant reported, citing market participants, that prices for secondary real estate in Russia’s largest regional markets began to rise gradually. Since the start of May, the cost of such housing has increased by an average of about 1 percent, signaling the early stages of a broader adjustment across key regional markets. The report underscored that the price movement is uneven but generally trending upward in several major urban centers, aligning with the observations from Etazhi and Izvestia that increased buyer interest is meeting with constrained supply. (Source: Kommersant; market participants)