A study of the Avito Real Estate platform, reported by socialbites.ca, shows a shift in demand patterns within Russia’s secondary housing market. While demand cooled in Moscow and Sochi, other regions posted notable growth as the broader market evolved.
Across the 33 cities surveyed, the secondary housing market on Avito Nedvizhimost experienced higher activity in 31 locations over the year. Cities leading the momentum included Kazan with a 70 percent rise, Yekaterinburg at 64 percent, Voronezh at 56 percent, Nizhny Novgorod at 49 percent and Samara at 46 percent. The data also indicate that Moscow saw a decline of 14 percent and Sochi a marginal drop of 1 percent, highlighting a geographic reshuffle in demand drivers.
Concurrently, apartment price movements in the secondary sector tended to rise in 27 of the 33 cities. The strongest price increases appeared in Chelyabinsk at 29 percent, Kirov at 23 percent, Volgograd at 17 percent, and Irkutsk at 15 percent. Moscow recorded a price uplift of 13 percent, underscoring a regional disparity in pricing trends within the same market.
Within the same period, certain markets experienced price declines. Kaliningrad fell by 13 percent, Sevastopol by 8 percent, Sochi by 7 percent, St. Petersburg by 4 percent, Krasnodar by 3 percent, and Kazan by 2 percent, illustrating the varied local dynamics at play across the country.
On an average basis, the cost of a secondary-market apartment in Moscow reached 13.7 million rubles in June 2023. Sochi stood at 10 million rubles, while St. Petersburg averaged 8.3 million rubles, painting a snapshot of the regional value spectrum during that period.
According to Avito Real Estate representatives, the most affordable secondary-market apartments among the 33 cities were found in Izhevsk at about 3.4 million rubles, Ulyanovsk at roughly 3.4 million rubles, and Kirov at around 3.5 million rubles, underscoring the wide spread in pricing across the country.
Earlier reports noted a trend where some Russians began selling apartments in new buildings, signaling a potential shift in demand toward newer stock amid evolving market conditions.