Prices for ready apartments in Russia stopped growing

In most of the largest cities of Russia, the average cost per square meter of secondary housing has stopped growing, said the federal company "Etazhi".

"The average cost per square meter of secondary housing in the six largest cities in Russia last month showed zero dynamics, in the rest there was still a slight increase", - said the leading analyst of the federal company "Etazhi" Alexander Ivanov.

According to him, in the country as a whole, the average price per square meter of secondary housing increased last month by only 0.4%.

"The market has reached a turning point, when in competition for the buyer sellers not only began to make a discount, but actually reduced the price of their objects, as a result of which the average cost per square meter in the secondary market, despite the change in the structure of supply, remained at the level of last month," - continued the expert.

The company's analysts have recorded zero price dynamics on the secondary housing market in Moscow, Rostov-on-Don, Samara, Kazan, Omsk and St. Petersburg. In Ufa the price decreased by 0.5%. A slight increase was noted in Yekaterinburg (+0.5%), Perm and Chelyabinsk by 0.4% and Krasnodar (+0.3%). More significantly, the average cost of ready housing rose in Nizhny Novgorod (+1%) and Novosibirsk (+1.1%).

"On the secondary housing market now prevail transactions without mortgage, at the beginning of the year their share exceeded 84% and this is a record high. Naturally, such buyers are trying to find options with maximum discount and the market has begun to adapt to their needs. At first there was an increase in the average level of bargaining, now we see in some of the major cities of Russia that the price growth has stopped. Most likely, in the medium term, a similar trend will be observed in all major cities," summarized Ivanov.

Seasonal reset: how 2024 ended for the real estate market

Apartment sales declined in all segments except premium

Earlier, on February 2, "Izvestia" got acquainted with the research data of the analytical center MR Group, where they told about the main trends in the real estate market of Moscow. The study reported about the active shift of interest of developers and buyers towards business class: in 2024 its share in the sales structure amounted to 49%, which is 8 p.p. higher than in 2023 - it is 27.3 thousand share participation agreements (SPA) for 1.6 million square meters. m.