In 2023 Moscow saw an unprecedented surge in the secondary housing market, driven by a higher volume of verified transactions reported by Interfax based on Rosreestr data from the capital. The year’s activity reflected a dynamic shift in buyer behavior and market confidence, signaling a broad-based interest in property trading beyond new builds.
Official figures indicate that roughly 175,000 deals to purchase secondary residences were concluded in Moscow during the previous year, marking a 30% uplift from 2022. This substantial rise underscores a market where more residents are trading up, down, or relocating within the city’s housing stock, influenced by shifting price signals and financing conditions. (Source: Rosreestr, reported via Interfax)
As of August, secondary-market activity in the capital peaked in 2023, recording 17.5 thousand contracts. The figure then hovered around 17 thousand through October, illustrating sustained momentum despite monthly fluctuations. (Source: Rosreestr via Interfax)
November and December showed a cooling trend, with December transactions totaling 14.9 thousand and edging down 3.4% from November. Yet, despite the late-year dip, the annual outcome remained a record for Moscow’s secondary market. This pattern points to a year of heightened liquidity, with buyers and sellers navigating price adjustments and mortgage dynamics. (Source: Rosreestr via Interfax)
Industry voices weighed in on the broader market context. Roman Vikhlyantsev, chief executive officer of Infinity Real Estate, described the fervor in the primary housing market and concessional mortgage programs as a temporary catalyst, while noting that the “spectacle” currently resides mainly in new construction activity and government-backed financing, which together sustain elevated interest in trading existing properties. (Source: Infinity Real Estate communications)
Sergei Zaitsev, Sales Director at Etazhi, observed that demand for housing in the primary market gained traction early in January compared with the prior year, suggesting a cyclical uptick that could influence secondary-market activity as buyers reassess affordability and financing options. (Source: Etazhi communications)
Prevailing forecasts at the time suggested the pace of purchases for country houses and cottages in Russia might grow through the early spring, potentially aligning with seasonal buyer sentiment and mortgage availability. The interaction between new-home incentives and secondary-market opportunities appears to be shaping a transitional period for the Russian housing sector, with implications for regional pricing, inventory turnover, and investor interest. (Source: market outlook notes)