In May, the Russian secondary housing market saw a renewed upswing in apartment prices, a trend reported by Kommersant. The shift reflects broader activity in the country’s urban centers as buyers reassess options in light of ongoing renovations and lifestyle upgrades.
Data from CIAN.Analytics show that the average price of secondary real estate across Russia’s 18 largest regional markets, which include more than 16 million residents in Moscow and the Leningrad region, reached 126.5 thousand rubles per square meter in May. This marks a 0.7% rise from April. Parallel figures from Etazhy put the May average at 112.6 thousand rubles per square meter, up 0.6% month over month. These two sources together illustrate a consistent upward move in the value of finished housing across major cities.
Among the largest cities, Chelyabinsk, Omsk, and Rostov-on-Don recorded the strongest price increases in finished inventory, advancing by 2.4%, 1.9%, and 1.5% respectively. In practical terms, this translated into Chelyabinsk averaging 76.5 thousand rubles per square meter, Omsk at 87.7 thousand, and Rostov-on-Don at 111.8 thousand rubles per square meter.
In the northern capital, St. Petersburg, the market exhibited a continued rise with prices climbing 1.2% to 191 thousand rubles per square meter. Moscow posted a more modest increase of 0.1%, with the current average at 301.2 thousand rubles per square meter. The differing dynamics across these hubs underscore how local demand, supply constraints, and remodeling trends shape pricing even within the same national market.
Analysts note a notable uptick in buyer activity in the secondary segment, attributing it to households seeking living-ready homes that already feature modern renovations, furnishings, and appliances. This shift toward move-in readiness means buyers are prioritizing the functional value of homes that minimize additional investments. Market watchers do not anticipate a near-term downturn in demand or in the prices of finished housing, suggesting a continued appetite among buyers for ready-to-live properties into the coming months.
Additionally, Izvestia reported that roughly one in five homes listed for sale across Russia are located in buildings completed after 2020, highlighting a growing share of newer construction entering the secondary market as buyers seek newer amenities and more efficient layouts in urban settings.