In April 2025, Moscow’s secondary housing market saw a notable surge, with the total number of transactions doubling compared with April 2024. This trend, highlighted by analysts from Inkom-Nedvizhimost and summarized by RBC, points to a strong appetite among buyers for established properties in the capital. The month’s results also imply a solid yield, as the April figures translate to about a 5 percent increase over March 2023 levels when viewed from a broader, year-over-year perspective.
Industry professionals explain that the jump is partly driven by a constrained pipeline of affordable, quality listings. In markets like Moscow, where demand has historically outpaced supply, buyers frequently face limited options that meet both price and quality criteria. Consequently, competition remains stiff for the few properties that meet the desired standards, influencing price dynamics and the speed at which deals are closed.
The study notes that in March 2023, transactions involving secondary housing in Moscow and the advances associated with them were 27 percent higher than February 2022 and 7 percent higher than March 2022, a period when Moscow’s housing market enjoyed exceptionally strong demand. While the market has evolved since then, those comparative markers help frame current activity, illustrating how fluctuations in supply, financing, and buyer sentiment interact to shape monthly results.
Analysts from Inkom-Nedvizhimost observe that the most attractive options from a price perspective appear to have already secured buyers. On average, the price per square meter in Moscow’s secondary market around April 2023 stood at roughly 274,900 rubles, and the overall average cost of an apartment in the company’s listings was about 14.26 million rubles. These figures provide a reference point for investors and homebuyers evaluating value in a market where price discovery can be swift and influenced by shifting mortgage costs and lender standards.
Industry watchers suggest that mortgage conditions continue to influence market tempo. In early May, reports indicated that at least three major Russian banks were raising or planning to raise mortgage rates. Higher borrowing costs tend to temper demand modestly, but the current trajectory shows resilience, with buyers adjusting timelines rather than stepping away from the market altogether. In Moscow, this means buyers weigh long-term affordability against the appeal of securing a home in a coveted, well-connected district.
Taken together, the latest data from Inkom-Nedvizhimost and coverage by RBC illustrate a nuanced picture of Moscow’s secondary housing scene. While year-over-year comparisons reveal a robust level of activity, the market’s forward path will likely hinge on the interplay between available inventory, financing terms, and the ongoing balance between demand and price discipline. For investors and prospective homeowners, the key takeaway is clarity: price awareness matters more than ever, and punctual, well-researched decisions can yield favorable outcomes in a market characterized by persistent competition and evolving lending conditions.