Yakutsk's square meter rate reaches a whopping 142,000 rubles.
Housing Market Trends in Major Russian Cities
2025 Update
February 2025 brought about a modest yet consistent uptick in the prices of secondary housing in significant Russian cities. According to "Yandex Real Estate," the average cost per square meter of ready-to-move-in apartments rose by 0.7%, settling at 139,000 rubles.
In Yakutsk, the secondary housing market demonstrated stability. The median price per square meter was 142,000 rubles, showing a minor 0.3% rise compared to the prior month. This pattern mirrors the cautious price growth trend observed in most prominent Russian cities.
Despite minimal price fluctuations, Yakutsk stood out for a 0.8% surge in available property listings. The typical secondary market apartment price in the region amounted to 7 million rubles, with an average lot size of 51 square meters.
Kazan emerged as a leader in price dynamics, with a 1.9% rise, placing the price per square meter at 184,000 rubles. Following Kazan are Voronezh, which experienced a 1.5% increase (to 105,000 rubles), and Chelyabinsk, where the price rose by 1.3% (to 98,000 rubles).
Yevgeny Belokurov, commercial director of "Yandex Real Estate," points out that the Central Bank's key rate plays a substantial role in shaping the market's pricing strategy. Maintaining the rate stable helps maintain the current price level. A rate hike might result in a reduction in prices for secondary real estate, as sellers might be more inclined to offer discounts to cash buyers.
Traditionally, Moscow and St. Petersburg top the list of square meter prices. In the capital, the price increased by 0.4%, reaching 353,000 rubles per square meter, while in the northern capital, the indicator climbed by 1.2%, reaching 212,000 rubles. Among other million-plus cities, Kazan, Nizhny Novgorod, and Yekaterinburg stand out, where significant price growth has also been noted.
The most budget-friendly choices on the secondary real estate market are available in Chelyabinsk and Volgograd, where prices remain under the 100,000 rubles per square meter threshold.
February 2025 illustrates that the secondary housing market in Russia remains steady and is on the path of moderate price growth, despite regional variances.
- Keywords:
- square meter
- secondary housing market
- housing in Yakutsk
Economic Insights:The overall Russian housing market experienced a slowdown, with prices predicted to escalate by approximately 3–5% throughout the year due to alternative transactions and discounts[1]. However, the sale of residential real estate in Russia plummeted significantly, with a drop starting in February and persisting through March[2].
Here's a city-by-city breakdown:
- Moscow and St. Petersburg: These cities are projected to face a shortage of new builds, potentially leading to a rise in secondary market prices. By 2027, prices might ascend by 10–15% in these regions[1].
- Krasnodar and Moscow suburbs: These areas are expected to experience stagnation or decreases due to market saturation[1].
- Yekaterinburg and Kazan: In cities with a housing shortage, prices on the secondary market could surge by 3–5%[1].
While specific February data is not provided, the trend suggests that while some cities may experience growth owing to supply constraints, others may deal with stagnation or decline due to oversupply and broader economic factors.
Sources:[1] Russian Housing Market 2025 Outlook: Stagnation, Discounts, and Shortages[2] Russian Residential Real Estate Sales Collapse: February–March 2025
Investors in the Russian real-estate market, particularly the secondary housing market, may observe a slowdown in price growth, with predictions of a 3-5% escalation throughout 2025. This trend is due to alternative transactions and discounts becoming more prevalent.
Within various cities, Moscow and St. Petersburg may encounter a shortage of new builds, potentially leading to an increase in secondary market prices, possibly by 10-15% by 2027. On the contrary, cities such as Krasnodar and Moscow suburbs might experience stagnation or decreases due to market saturation. However, in cities suffering from a housing shortage, such as Yekaterinburg and Kazan, prices on the secondary market could surge by 3-5%.
