On January 1, the Ministry of Construction and Housing and Communal Services of the Russian Federation issued an order that fixes the standard cost per square meter of total living space across the country for six months. This move was reported by RIA News. The approved standard stands at 97,547 rubles per square meter, marking a 4 percent increase from the second half of 2023. This figure is essential for calculating social payments from the federal budget that help residents purchase housing. In addition, the document lays out indicators for the average market value of housing across Russian regions.
Regional patterns show Moscow continuing to record the highest benchmark, at 170.6 thousand rubles per square meter, up 3 percent from late 2023. St. Petersburg keeps pace with a steady value of 165.3 thousand rubles per square meter. The Primorsky Territory saw the standard rise to 158.9 thousand rubles per square meter, while Sakhalin increased by six percent to 157 thousand rubles per square meter, translating to a 3 percent rise from the previous period. These regional differentials reflect local market dynamics, construction costs, and demand levels across Russia.
Looking at the broader market, the average price per square meter across regions shows a softer picture, with the lowest values falling in the mid-November timeframe. In Kabardino-Balkaria, the average market price was around 45.9 thousand rubles per square meter, representing a modest 2 percent increase from earlier in the year. This contrast between top-tier metropolitan markets and more affordable regions highlights the uneven nature of housing costs nationwide, influenced by factors such as urban density, infrastructure, and income levels in different areas.
Beyond the price indicators, the government and lawmakers have been examining housing finance mechanisms. Notably, discussions have emerged about introducing psychological assessments as part of the loan approval process. Advocates argue that such evaluations could help lenders better understand borrower behavior and risk profiles, potentially improving loan discipline and repayment outcomes. Critics warn that adding psychological testing could raise barriers to access and complicate the financing process for buyers. The conversation reflects a broader shift toward more nuanced credit risk analysis within the housing market, balanced against the goal of expanding affordable home ownership for citizens.
Throughout the national housing framework, the standard cost per square meter serves as a benchmark for pricing, budgeting, and policy planning. It influences the size and scope of social support programs, guides regional market assessments, and informs households about current affordability trends. For families and individuals aiming to purchase homes using federal funding or subsidies, understanding these standards provides important context about potential assistance, eligibility, and expected costs. The measure underscores how policy levers, regional conditions, and macroeconomic factors intersect to shape living costs across the country, shaping decisions for buyers, lenders, and local authorities alike.