Discounts on Russian real estate have sunk to a new low. Currently, property owners are prepared to reduce prices by an average of only 4.4 percent of the total land cost, according to statistics shared by the federal company Etazhi and cited by Izvestiya.
Several factors explain this lull. The analysis highlights a steady demand for secondary housing and a slower pace of new listings entering the market, which together help support prices and keep discounting restrained.
The report notes that the average discount has hit its lowest point in the past year at 4.4 percent. Sellers appear more cautious about discounts as the supply side loses momentum; last year the pool of properties for sale could expand by 10 to 15 percent each month, whereas current growth has eased. This shift makes price reductions less aggressive as sellers weigh proximity to asking prices against the need to move property.
Meanwhile, data from the federal portal World of Apartments, reported by TASS on May 16, shows further movement in the market. In April, the price per square meter in the secondary housing segment rose in 60 of 70 Russian cities with populations over 300,000, marking a 1.8 percent increase to around 100.5 thousand rubles per square meter. This broad-based uptick signals ongoing strength in many regional markets even as discounts shrink in many core areas, underscoring a nuanced balance between supply constraints and demand dynamics across the country. Source attribution: Izvestiya and Etazhi; TASS citing World of Apartments data.