The Ministry of Construction has announced that starting in 2023, the standard cost per square meter of housing will rise by 6.4 percent compared with the second half of 2022, reaching 88,737 rubles. This figure was published on the department’s official site and reflects a planned adjustment to housing cost norms across the country.
According to the ministry, the cost standard for one square meter of housing in the Russian Federation for the first half of 2023 will amount to 88,737 rubles, marking a 6.4 percent increase from the second half of 2022. The document also sets forth the proposed average cost indicators for a single square meter of a residential building for each constituent entity of the Russian Federation for the first quarter of the upcoming year, as noted in the briefing materials.
The press service highlighted that for the first time standards will cover the newly incorporated regions of Russia. At the same time, corresponding adjustments were made to the methodology guiding these calculations to ensure uniform application across the expanded geographic landscape.
In its directive, the ministry indicated that Moscow will record the highest rates, with the cost of one square meter estimated at 169,679 rubles. Following the capital, St. Petersburg is forecast to have per-square rates around 165,315 rubles, while the Primorsky Territory is projected to reach approximately 150,287 rubles per square meter as benchmarks for planning and assessment purposes.
Analysts from CIAN were cited by RBC in mid-December, noting trends in the housing market. In 2022, the average price increase on the secondary housing market in Russia slowed compared with the previous year, according to CIAN. The agency reported that the average cost of a single square meter in the Russiaian secondary market in 2021 rose by about 26 percent to 97 thousand rubles. In 2022, price growth decelerated, with prices stabilizing from April onward and rising by roughly 1.3 percent since that period, signaling a cooling trend in the secondary market while new construction markets faced their own dynamics.