The trend in Russia’s secondary housing market shows prices climbing as demand stays strong and the supply of liquid listings remains tight. A leading industry outlet reports this trend with reference to CIAN Analytics, outlining how market dynamics are shaping price levels across major regions.
In the 18 largest regional markets of Russia, together with Moscow and the Leningrad region, the average price of secondary housing in August stood at 130.4 thousand rubles per square meter. This figure marks a 1.9% rise from July, representing the sharpest month-over-month increase since March 2022. Prior gains typically ranged from 0.7% to 0.9% in a given month, making the August uptick notably stronger than usual.
Industry sources from Etazhi reported a similar expansion, noting the average price of secondary real estate increased by 0.33% to around 114.3 thousand rubles per square meter last month. Meanwhile, Avito Nedvizhimost highlighted that the average procurement budget across Russia reached approximately 4.4 million rubles, up about 1.9% from the prior month.
Analysts have discussed the interplay between new build sales and the autumn market. Real estate experts suggest that mortgage rates within the secondary market have risen in response to a higher key rate set by the central bank, while terms in the new buildings segment have shown resilience. The shifting cost landscape is expected to spur stronger demand for primary-market apartments in the autumn, even as prices for completed units may experience a downward pressure in some areas.
Additionally, a fintech study conducted by YuKassa, in collaboration with an online lodging platform and a transportation company, found that the daily rental sector in Russia registered a notable year-over-year price increase of around 15%. This finding reflects broader changes in housing affordability and usage patterns across the country.
There is also awareness among market participants about the carryover risk associated with mortgage costs, given ongoing adjustments in lending conditions. The overall picture suggests a cautious but active market, with regional variations continuing to shape buyers’ decisions in both the primary and secondary segments.