The average price of secondary real estate across the 18 largest regional markets in Russia stood at 124.7 thousand rubles per square meter in March 2023, marking a monthly rise of 0.5%. This figure was reported by Kommersant, using data from the CIAN.Analitika portal.
Analysts observed that the earlier decline in prices and the expansion of supply had slowed. Among the regions, Volgograd showed the sharpest monthly uptick in the secondary market, with prices reaching 85.6 thousand rubles per square meter, up 2.4%. Chelyabinsk also posted a significant increase of 2.1%, bringing its average to 72.9 thousand rubles per square meter.
In Moscow, the current average asking price on the secondary market is 301.4 thousand rubles per square meter. Over the past year, this figure has risen by 3.5% and, in the most recent month, remained stable.
Alexei Popov of CIAN.Analytics commented that higher absolute price levels tend to accompany stronger declines over the previous year, establishing a clear inverse relationship between price bases and their year-over-year changes.
Earlier in the week, Rusipoteka’s chief analyst Sergey Gordeiko noted that, based on available data, the average loan rate for purchasing secondary real estate in Russia could edge upward from 11.45% to around 12% in April 2023. This projection reflects ongoing adjustments in lending terms that influence buyer activity and market dynamics.
Looking at the broader context, market watchers highlight that price movements in secondary housing are influenced by a mix of regional economic conditions, mortgage rates, and housing supply. Regions experiencing faster price growth often show tighter housing inventories or stronger local demand, while cities with higher price bases may exhibit more modest month-to-month changes. The Moscow market, with its substantially higher price levels, tends to react differently to shifts in lending conditions than regional markets, where price levels are more moderate and inventory dynamics can drive more noticeable changes in affordability for buyers on the margin.
Updated observations from 2024 and into 2025 indicate that price stabilization in some regional markets can coexist with gradual price pressure in others, depending on local job markets, demographic trends, and credit availability. Market participants—ranging from individual buyers to development banks—continue to monitor the trajectory of mortgage rates, lending standards, and the pace of secondhand supply as key signals for future price direction. In this landscape, the interplay between price levels and loan costs remains a central consideration for buyers and sellers alike.