Residential real estate prices have been steadily growing in Russia both in the primary and the secondary market over the observed period. After a brief decline at the beginning of 2012, price growth resumed over the following years. In the second quarter of 2024, the average square meter price of residential estate in the country was measured at around 171,200 Russian rubles for new construction and at 110,100 Russian rubles for the second-hand properties.

Key information about House Prices Growth

• Russia house prices grew 11.8% YoY in Dec 2022, following an increase of 16.1% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2006 to Dec 2022, with an average growth rate of 5.1%.
• House price data reached an all-time high of 54.4% in Dec 2006 and a record low of -11.1% in Dec 2009.

CEIC calculates House Prices Growth from quarterly Residential Property Price Index at Secondary Sales Market. Federal State Statistics Service provides Residential Property Price Index at Secondary Sales Market with base Same Quarter Previous Year=100.

Graph and download economic data for Housing Inventory: Average Listing Price Year-Over-Year in Moscow, ID (CBSA) (AVELISPRIYY34140) from Jul 2017 to Feb 2025 about Moscow, ID, average, listing, price, and USA.

High inflation rates of the Russian ruble, subsequent to the COVID-19 expansion and the cruide oil price drop, promoted a high demand on residential real estate. As a result, an increase in housing prices was recorded in most major cities of the country. After a 1.5 percent growth in March 2020, Moscow led the list with the highest average price for residential real estate, measuring at 211.5 thousand Russian rubles per square meter.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Graph and download economic data for Housing Inventory: Median Listing Price in Moscow, ID (CBSA) (MEDLISPRI34140) from Jul 2016 to Feb 2025 about Moscow, ID, listing, median, price, and USA.

Luxury apartments were the only type of residential real estate in Moscow for which the prices were greater in the primary market relative to the second-hand market. For improved and average quality apartments, however, prices per square meter were somewhat greater in the secondary market compared to the new constructions as of the fourth quarter of 2019.

Average Apartment Price: Secondary Sale: Moscow: Low Quality Apartments data was reported at 91,817.420 RUB/sq m in Dec 2015. This stayed constant from the previous number of 91,817.420 RUB/sq m for Sep 2015. Average Apartment Price: Secondary Sale: Moscow: Low Quality Apartments data is updated quarterly, averaging 96,894.115 RUB/sq m from Mar 2000 (Median) to Dec 2015, with 64 observations. The data reached an all-time high of 136,219.170 RUB/sq m in Mar 2009 and a record low of 10,627.460 RUB/sq m in Mar 2000. Average Apartment Price: Secondary Sale: Moscow: Low Quality Apartments data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Global Database’s Russian Federation – Table RU.EF003: Average Apartment Price: Secondary Sale.

This dataset provides information about the number of properties, residents, and average property values for Market Street cross streets in Moscow Mills, MO.

Graph and download economic data for Housing Inventory: Median Days on Market in Moscow, ID (CBSA) (MEDDAYONMAR34140) from Jul 2016 to Feb 2025 about Moscow, ID, median, and USA.

The average rent for shopping center real estate in Moscow remained constant over the given period for both listed categories. Namely, a mean rent of prime shopping centers was set at an annual 185 thousand Russian rubles per square meter, which was over twofold higher than the rental rates of average quality shopping centers in the city.

 Major real estate developers in Russia

In 2020, PIK Group, which specializes in a premium residential and commercial real estate construction mainly in Moscow and Moscow region, was the leading real estate developer in the country, by the area under development. The second major market payer was the Saint Petersburg based LSR Group, with an estimated revenue of 110 million Russian rubles, and 11 thousand employed personnel, as of December 2019.

The coronavirus (COVID-19) impact on the market

The coronavirus outbreak at the beginning of 2020 in Russia, lead to real estate demand growth, as a result of which rise in prices of the secondary residential properties was observed in major cities countrywide. The pandemic had its negative effect on commercial real estate as well, given the social distancing requirements imposed by the government. In Moscow, the shopping mall traffic was reported a historic low in April of 2020.

This dataset provides information about the number of properties, residents, and average property values for Veatch Street cross streets in Moscow, ID.

The average cost of residential housing construction in Russia has been increasing annually. The figures exceeded 49.2 thousand Russian rubles per one square meter in 2021. To compare, in 2020 it cost approximately 4.7 thousand Russian rubles less to build one square meter of residential housing.

This dataset provides information about the number of properties, residents, and average property values for Himmel Road cross streets in Moscow Mills, MO.

In 2018, the average prime property price in Hong Kong was 6.87 million U.S. dollars. Shanghai and Moscow had the next highest prime property prices at 2.43 and 2.38 million U.S. dollars respectively.

Accelerated Russian ruble devaluation, caused by the coronavirus (COVID-19) expansion and sinking oil prices, generated an increasingly popular fear of a possible mortgage rate growth in the country. Consequently, the residential real estate demand growth led to increased prices in the secondary market. The highest increase was marked in Krasnoyarsk at two percent, while Moscow made it in the top three with a 1.5 percent increment on average.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

In 2019, average jewelry prices in Moscow were almost the highest among 28 most expensive megapolises worldwide featured in the Global Wealth and Lifestyle Report, accounting for 89 percent of the price in the city with the highest cost. A laser eye correction Lasik was recorded at the lowest price among the major cities. A luxury residential property price per square meter occupied only 16 percent of that in the most expensive city in this category.

This dataset provides information about the number of properties, residents, and average property values for Victory Court cross streets in Moscow Mills, MO.

Krasnaya Polyana, located in the Krasnodar Krai of Russia, has become a popular destination for ski tourists over the past years, leading to a surge in real estate prices in this area. Consequently, the average selling price of residential real estate in Krasnaya Polyana exceeded that in the capital city and was measured at over 325.6 thousand Russian rubles per square meter in December 2021. Apart from Krasnaya Polyana, Sochi, Gelendzhik, and Moscow, all cities in the ranking were located in the Moscow Oblast.

This dataset provides information about the number of properties, residents, and average property values for Foothill Road cross streets in Moscow, ID.

During 2018, Paris was the most expensive European city to rent an Apartment, at 2.85 thousand U.S. dollars per month. London had an average rental cost of over 300 U.S. dollars less than the Capital of France. Cities within Western Europe have a higher rental price than their Eastern counterparts with Moscow seeing the average cost of rent over one thousand U.S. dollars per month lower than Paris.

Supply and demand

One of the main factors driving high rents across European cities is the same as any other consumer driven business. If demand outweighs supply, prices will inflate. The drive for high paid professionals to be located centrally in prime locations, mixed with the low levels of available space, high land and, construction costs all help keep rental prices increasing.

Renters now outweigh home owners

In London, the number of private renters has increased dramatically from 2008. Increasing house prices as well as standard costs of living have seen more and more people unable to get on to the property ladder, and are therefore forced onto the rental markets for longer. This being said 2019 has become a great time for first-time buyers as interest rates remained historically low.