Construction costs in Gelendzhik and Anapa outpace Sochi with regards to new building prices.
In a recent report by RIA "Novosti" and Mira Kvartir, it has been revealed that property prices in various Black Sea coastal cities have experienced significant increases over the past year.
Gelendzhik has seen the highest jump in new building prices, rising nearly 15% to reach 298,000 rubles per square meter. Anapa follows closely with a 12% increase to 260,900 rubles per "square," while Sochi and Novorossiysk experienced more modest growth of 5% and almost 3%, respectively. Prices in Tuapse have remained relatively stable.
On the secondary market, Gelendzhik again leads the way with a 9% price increase, reaching 247,000 rubles. Sochi's secondary housing prices have risen by 4%, while prices in Tuapse, Anapa, and Novorossiysk have increased by 5%, 7%, and almost 3%, respectively.
In sum, new building prices on the Black Sea coast have risen by 7% to 270,000 rubles per square meter, while secondary housing prices have increased by 6% to 208,300 rubles per "square."
According to previous reports, Sochi's new building prices reached an average of 443,700 rubles per square meter by the end of April 2025. This represents a year-over-year increase of 15.6%, or 59,800 rubles. The price floor for new buildings in Sochi is now set at 213,000 rubles per square meter, with the most expensive properties commanding up to 3.2 million rubles per square meter.
At present, the cheapest new building in Sochi is priced at 8.4 million rubles, while the most expensive reaches 606 million rubles.
As global real estate markets continue to evolve, rising home prices and potential bubble risks have been highlighted by the Central Bank in some regions. Meanwhile, housing prices in Bulgaria have grown modestly by 3.9% in the third quarter of 2024. In coastal areas, beachfront properties often experience higher demand and prices due to factors such as tourist demand, economic conditions, and local infrastructure development. The specific price increases recently observed in Gelendzhik, Sochi, Anapa, Novorossiysk, and Tuapse can be influenced by these factors, among others. Consulting local real estate agents or property databases can provide more precise information on these trends.
Investing in new buildings in Gelendzhik has seen the highest increase in the Black Sea coastal cities' housing-market, with a 15% rise bringing the price to 298,000 rubles per square meter. As global real-estate markets evolve, it's crucial to consider factors such as tourist demand, economic conditions, and local infrastructure development when assessing potential risks and returns in this market, as exemplified by the recent price increases observed in Gelendzhik and other Black Sea cities.
