The latest data on Moscow’s primary housing market show that the average price per square meter in new buildings within the old city area reached 591.7 thousand rubles by the end of August 2024, marking a year‑over‑year increase of 17.6 percent. The Southern Administrative District recorded the largest uplift, around 21.3 percent, while Zelenograd posted the smallest gain, near 0.8 percent. These figures come from a market study analyzing the Moscow primary market and are relevant for investors watching price trends in both Russia and global markets.
Prices rose across all ten districts of the old city, underscoring a broad market recalibration rather than localized spikes. Even with a brief pause in price movement in midsummer, overall growth over the past year exceeded inflation, driven by shifts in the sales mix and the launch of a substantial number of high-budget projects. Analysts say the sustained momentum reflects strong liquidity in Moscow’s new-build sector, meaning developers can sell new units quickly and profitably when conditions allow.
The sharp price rise in the Southern District has implications for the broader primary market in Moscow. This district stands out as the leader in supply, hosting 8,662 apartments and flats, which accounts for about 16.3 percent of all new-build listings in the old Moscow area. The concentration of supply in this district, paired with high demand, helps explain the noticeable price acceleration there and its influence on the market as a whole.
Experts note that a large share of housing under construction is owned by developers, at roughly 92.9 percent. At the same time, finished new buildings in the Southern District retain strong appeal to buyers and investors, contributing to rising prices even as the market balances between under‑construction stock and readily available completed units.
In New Moscow, the average price per square meter in new buildings rose by about 5.1 percent on the year, signaling differences in pricing dynamics between traditional metro zones and the newer development areas. Taken together, these patterns illustrate how district characteristics, supply composition, and project budgets shape pricing across Moscow’s primary housing market.
The research was carried out across the Moscow primary market, revealing a landscape where liquidity and project scale drive pricing. Earlier market coverage has discussed whether buying or renting remains more profitable in today’s environment, a question that continues to influence decision making among domestic buyers and international investors looking at Moscow real estate as part of a diversified portfolio.