June 5, 2023
multi-storey building
©Portal of the Mayor and Government of Moscow / mos.ru

For three months of 2023 in Russia, the price of apartments in new buildings decreased by 0.6% compared to the fourth quarter of 2022. The cost per square meter dropped to 127.2 thousand rubles.

At the same time, year-on-year, the price of housing in new buildings increased by 11.4% by April 1, writes RIA Novosti – Real Estate on Friday, April 28, citing Rosstat data. In what regions are new buildings more expensive?

  • Moscow (minus 2%, 292.8 thousand rubles per sq. m.);
  • St. Petersburg (minus 4%, 212.5 thousand rubles);
  • Leningrad region (minus 3%, 163.8 thousand rubles).

At the same time, in annual terms, all three regions showed an increase of 6.2%, 5.6% and 17%, respectively. The most affordable new buildings are located in Kabardino-Balkaria (30.8 thousand rubles per square meter) and Karachay-Cherkessia (32.6 thousand rubles).

As for secondary housing, it has risen in price for the first quarter of this year by 1.2% – up to 90.9 thousand rubles. per sq. m. In terms of prices, Moscow remains in first place with 304.5 thousand rubles, followed by the Krasnodar Territory (177.7 thousand rubles). The top three is closed by St. Petersburg (174.6 thousand rubles).

The most affordable secondary housing, according to the statistical office, is in Ingushetia (45.3 thousand rubles per sq. m.) and the Kurgan region (52.6 thousand rubles).

In Russia for 2022 new buildings have risen in price by 21%. The cost of housing in the secondary market increased by 12%. At the same time, the demand for new buildings decreased last year compared to 2021 by 22% – to 703 thousand contracts for participation in shared construction.

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