New housing in Tomsk in 2025 will increase in price despite a decline in sales.
Tomsk's Real Estate Market: A Snapshot
(Informal, approachable, straightforward style)
By May 2025, the cost of a square meter in Tomsk's new developments skyrocketed to 151,6k rubles; the soaring prices of new housing are attributed to inflation and escalating production costs, despite a slump in sales, as revealed by Dmitriy Hloptsov, Director of Tomsk's real estate valuation bureau, 'TOKKO'.
Earlier reports suggested that in January 2025, the average price for housing in Tomsk's primary market was 128,44k rubles per square meter, while in the secondary market, it was 124,6k rubles. Prices became nearly equal due to the unavailability of mortgages for not only secondary but also new housing. Central Russia showed a surplus of real estate supply in Tomsk's market in March 2025, with 68% of new housing going unsold.
"On the primary housing market, the cost of one square meter, according to our data, is currently 151,6k rubles, on the secondary market - 119,4k rubles per square meter. The primary market significantly outpaces the secondary market, and this is due to the fact that, despite a drop in sales on the primary market, prices continue to rise. Inflation is raging, production costs are escalating, but the apartments just aren't selling," explained Hloptsov.
By April 1st, the overall average price of apartments in Tomsk was 123,380 rubles per square meter. For comparison, it was 120k rubles at the end of 2024, and 111,513 rubles at the end of 2023.
More than 70% of new housing in Tomsk's region remains untouched
Hloptsov added that the situation in Tomsk's real estate market in 2025 remains uncertain, yet established trends persist. "The market continues to see excessive supply, with a deficit in demand largely due to the absence of mortgage programs the populace can access. Credit issuance has decreased by nearly 40-60% both nationally and in Tomsk. Granted, people still take out loans. However, to reiterate, this is happening in minimal volumes," explained the expert.
Influential Factors on Housing Prices
- Economic Conditions: General economic circumstances, such as inflation and interest rates, play a crucial role in shaping housing prices. Higher inflation can lead to increased construction expenses, which may be passed onto consumers.
- Price Expectations: Monitoring by the Bank of Russia reveals that construction sector price expectations often surpass the national average, potentially contributing to price increases.
- Government Policies: Any alterations in government policies concerning housing, including subsidies or regulations affecting developers, can impact prices.
- Demand and Supply: The balance between the supply of new homes and demand for housing in Tomsk drives price fluctuations. If demand outpaces supply, prices may climb.
- Political Factors: External factors like geopolitical tensions can affect the economy and, consequently, housing prices.
Without specific Tomsk-related data, these broad economic factors help us understand potential trends in the city's housing market. Local economic conditions, regional development, and specific Tomsk policies would further refine the analysis.
- If you're planning to invest in Tomsk's real-estate market, it's crucial to consider the current economic conditions, as inflation and escalating production costs are pushing prices higher. The cost of a square meter in new developments recently skyrocketed to 151,6k rubles.
- Despite the high demand for mortgages, they remain unavailable for both new and secondary housing, which could make investing in Tomsk's real-estate market challenging, as over 70% of new housing in the region remains untouched.
