Sales of residential real estate in Russia fell by almost 40%

Sales of residential real estate in Russia in April decreased by 39.8% compared to March. Such data is contained in a study by the consulting company CORE.XP based on the results of April. The document, which Izvestia has, says that the decline began in February and in March was already 12.3%.

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At the same time, according to analysts, after the cancellation of preferential mortgage programs and the increase in bank rates, Russians are increasingly buying real estate through the installment mechanism. The share of such purchases is already 54%.

"The volume of transactions in square meters has really been decreasing since February. Buyers are not rushing to make decisions, expecting an improvement in the geopolitical climate and an expansion of the family mortgage program. The strengthening of the ruble exchange rate also forces buyers to observe more than make decisions," the director, head of residential real estate CORE, explained to Izvestia.XP Ekaterina Lomteva.

The company predicts that the downward trend will continue in May. At the same time, according to the study, premium and deluxe classes remain the engines of growth in residential real estate. Thus, prices for such apartments increased by 57.4% and 24.5%, respectively, over the year. While in the comfort class, the increase was only 0.1%.

Against this background, as noted in the study, investments in housing construction have decreased by 50% since the beginning of the year compared to the same period in 2024, falling from 179 to 90 billion rubles.

Read more in the exclusive Izvestia article:

Below the skirting board: sales of residential real estate in Russia have collapsed by almost 40%