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 ******* Russian rubles for new construction and at ******* Russian rubles for the second-hand properties.

Moscow was the leading city in the secondary housing market in Russia by price per square meter in June 2024. The price of an apartment on the secondary market in the capital stood at 333,000 Russian rubles per square meter, which was around 64 percent higher than the price level in Saint Petersburg.

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.

In June 2024, the Russian capital remained an irreplaceable leader among the cities with over one million inhabitants by price of primary housing per square meter countrywide. One square meter in Moscow's primary housing market cost ******* Russian rubles in that month.

House price index in Russia, March, 2025 The most recent value is 213.01 index points as of Q1 2025, an increase compared to the previous value of 192.01 index points. Historically, the average for Russia from Q1 2001 to Q1 2025 is 88.05 index points. The minimum of 12.29 index points was recorded in Q1 2001, while the maximum of 213.01 index points was reached in Q1 2025. | TheGlobalEconomy.com

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.

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Russia Average Construction Price: Residential Housing: Apartments: Rural data was reported at 40,030.000 RUB/sq m in Dec 2018. This records an increase from the previous number of 34,970.000 RUB/sq m for Sep 2018. Russia Average Construction Price: Residential Housing: Apartments: Rural data is updated quarterly, averaging 33,604.500 RUB/sq m from Mar 2007 (Median) to Dec 2018, with 48 observations. The data reached an all-time high of 48,749.000 RUB/sq m in Jun 2014 and a record low of 17,925.000 RUB/sq m in Sep 2007. Russia Average Construction Price: Residential Housing: Apartments: Rural 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.EB008: Construction Price: Residential Housing.

In Russia, during 2018, housing prices increased steadily throughout the construction process. Starting from about 55.7 thousand Russian rubles per square meter in the first quarter, they exceeded 61 thousand Russian rubles in the eighth quarter of construction on average.

Russia Avg Consumer Price: Housing Payment: State and Municipal Houses data was reported at 30.020 RUB/sq m in 18 Feb 2019. This stayed constant from the previous number of 30.020 RUB/sq m for 11 Feb 2019. Russia Avg Consumer Price: Housing Payment: State and Municipal Houses data is updated weekly, averaging 19.220 RUB/sq m from Jan 2008 (Median) to 18 Feb 2019, with 569 observations. The data reached an all-time high of 31.100 RUB/sq m in 24 Dec 2018 and a record low of 10.510 RUB/sq m in 07 Jan 2008. Russia Avg Consumer Price: Housing Payment: State and Municipal Houses data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA001: Average Consumer Price: Weekly.

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

Real residential property prices Y-on-Y, percent change in Russia, March, 2025 The most recent value is 6.3 percent as of Q1 2025, a decline compared to the previous value of 7.45 percent. Historically, the average for Russia from Q1 2002 to Q1 2025 is 4 percent. The minimum of -28.57 percent was recorded in Q1 2011, while the maximum of 51.45 percent was reached in Q4 2006. | TheGlobalEconomy.com

The most expensive material for housing construction in Russia in 2018 was monolith, ascending to roughly 56 thousand Russian rubles per square meter. The average construction cost with brick was set at 37.4 thousand Russian rubles per square meters, which was the lowest price among the materials on the list.

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 ***** 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.

Russia Average Services Price: Period End: Municipal Housing Fee data was reported at 31.100 RUB/sq m in 2018. This records an increase from the previous number of 28.870 RUB/sq m for 2017. Russia Average Services Price: Period End: Municipal Housing Fee data is updated yearly, averaging 8.870 RUB/sq m from Dec 1994 (Median) to 2018, with 25 observations. The data reached an all-time high of 31.100 RUB/sq m in 2018 and a record low of 0.080 RUB/sq m in 1994. Russia Average Services Price: Period End: Municipal Housing Fee data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA025: Average Services Price: Annual.

Turkey experienced the highest annual change in house prices in 2024, followed by Bulgaria and Russia. In the fourth quarter of the year, the nominal house price in Turkey grew by **** percent, while in Bulgaria and Russia, the increase was ** and ** percent, respectively. Meanwhile, many countries saw prices fall throughout the year. That has to do with an overall cooling of the global housing market that started in 2022. When accounting for inflation, house price growth was slower, and even more countries saw the market shrink.

Russia Avg Consumer Price: HU: Housing: Private: Two-Room Apartment Rent data was reported at 17,302.940 RUB in Jan 2019. This records a decrease from the previous number of 17,345.860 RUB for Dec 2018. Russia Avg Consumer Price: HU: Housing: Private: Two-Room Apartment Rent data is updated monthly, averaging 17,790.670 RUB from Jan 2012 (Median) to Jan 2019, with 85 observations. The data reached an all-time high of 19,732.390 RUB in Sep 2015 and a record low of 11,159.180 RUB in Nov 2012. Russia Avg Consumer Price: HU: Housing: Private: Two-Room Apartment Rent data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA020: Average Consumer Price: Housing and Utilities Services.

Avg Consumer Price: HU: Housing: Hotels: Overnight Rate data was reported at 1,796.060 RUB/Person in Jan 2019. This records an increase from the previous number of 1,770.350 RUB/Person for Dec 2018. Avg Consumer Price: HU: Housing: Hotels: Overnight Rate data is updated monthly, averaging 818.060 RUB/Person from Jan 1995 (Median) to Jan 2019, with 289 observations. The data reached an all-time high of 1,948.970 RUB/Person in Jun 2018 and a record low of 23.540 RUB/Person in Jan 1995. Avg Consumer Price: HU: Housing: Hotels: Overnight Rate data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA020: Average Consumer Price: Housing and Utilities Services.

Krasnaya Polyana was ranked among Russian cities by average rental price of residential real estate in May 2022, at 1,250 Russian rubles per square meter. The city is home to ski resorts in the Krasnodar Krai. Sochi ranked third, while the capital Moscow was fourth.

Russia Average Services Price: Period End: Boarding House Stay data was reported at 1,869.540 RUB/Day in 2018. This records a decrease from the previous number of 1,869.650 RUB/Day for 2017. Russia Average Services Price: Period End: Boarding House Stay data is updated yearly, averaging 661.410 RUB/Day from Dec 1993 (Median) to 2018, with 26 observations. The data reached an all-time high of 1,869.650 RUB/Day in 2017 and a record low of 6.660 RUB/Day in 1993. Russia Average Services Price: Period End: Boarding House Stay data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA025: Average Services Price: Annual.

With the construction cost of over 61 thousand Russian rubles per square meter, the Central federal district was listed as the most expensive region for housing construction across the country in 2018. The Northwestern FD followed it with an average construction price of 58.4 thousand Russian rubles per square meter. By comparison, in the North Caucasian FD, the construction price of a square meter was set at 26.5 thousand Russian rubles.