In November the average price per square meter of finished apartments on the secondary market reached 119.13 thousand rubles, marking a new record. This information comes from a report by the Etazhi company, cited by a local newspaper.
Prices rose by 1.4 percent despite tighter mortgage access and softer demand in the housing market. A company expert, Tatyana Akhmetdinova, attributes the uptick to changes in the supply structure. Today, buyers tend to pursue apartments with the highest discounts, which pushes the average price per square meter higher overall.
The sharpest increases occurred in Omsk, Kazan, and Rostov-on-Don with about 3.5 percent, Yekaterinburg at 3.2 percent, and St. Petersburg around 2.7 percent. The smallest growth was observed in Volgograd and Ufa at about 0.7 percent, with Moscow up roughly 0.6 percent. Second-hand prices have not fallen across more than a million cities.
Akhmetdinova notes that price momentum is largely inertia-driven, while the growing discounting reflects sellers aiming to move properties quickly. This strategy appears sensible given ongoing concerns about the availability of mortgage funding.
Earlier information indicated that the preferential mortgage down payment would be increased, affecting market dynamics going forward. The trend underscores how policy signals can ripple through pricing and seller behavior.
Earlier analyses also warned about the potential shortage of new housing in Russia, a concern that continues to influence market sentiment and pricing patterns.