Moscow Country Homes See Major Price Drops in Early 2023

In the first half of 2023, a notable shift occurred in the market for country houses and summer cottages in Moscow. Reports from Restate, cited by writers at Lenta.ru, indicate that prices for these properties were trending downward, approaching a decline of nearly half from previous levels. The overall implication is clear: buyers found substantial opportunities as Moscow real estate cooled, especially in suburban areas and within the boundaries of New Moscow. When averaged across the market, the typical price for a country residence moved toward the mid-thirties millions in rubles, suggesting a broad retrenchment in the value of larger, detached homes. A concrete example would be a seven-room cottage spanning around 200 square meters in New Moscow, which at the time could be acquired at prices around 35.6 million rubles, underscoring the possibility of achieving sizable living space at a comparatively modest entry point for this market segment.