In August, average prices for new housing in Russia’s major regions showed a clear uptick. Analysts noted that the cost of primary housing in the largest markets rose by nearly 2 percent month over month, marking the strongest momentum in six months. This trend was reported by Kommersant, citing Cyan.Analytics data.
According to the Cyan analytical center, the average price per square meter in new buildings across the 18 largest regional markets reached 147,100 rubles in August. That figure is up about 3,000 rubles, or 1.9 percent, from the previous month. The rise represented the highest monthly increase since February this year.
Market experts attribute the price acceleration to developers adjusting to stronger demand amid economic volatility, including a higher central bank key rate. Projections suggest average prices for new homes could climb an additional 5 percent by year end.
The price growth was particularly pronounced in Kazan, where values jumped 6.5 percent to 191,500 rubles per square meter, and in Chelyabinsk, up 5.1 percent to 104,000 rubles. In Moscow, prices rose 1.4 percent to 328,600 rubles, while St. Petersburg saw a smaller uptick of 0.3 percent to 232,100 rubles per square meter.
Analysts say the quicker price gains reflect developers sensing stronger demand in the face of expectations for ruble weakening and tighter monetary policy. The number of share participation agreements signed in July reached its highest level since February, underscoring robust buyer activity in the market.
At the same time, the industry does not anticipate supply shortages. Analysts expect developers to move more aggressively to sell their existing stock of finished homes. In early August, a rise in prices for secondary housing was also observed, signaling growing market momentum across segments.
Additionally, there continues to be interest in subsidized mortgage programs, which appear to be supporting demand in some regions and influencing price dynamics across the primary market. These factors collectively point to a pricing environment where buyers are moving quickly to secure new homes before any further rate adjustments or policy shifts, a trend noted by industry observers and market trackers [Cyan.Analytics].