11 large cities are at risk due to the growth of unsold housing

A year after the cancellation of preferential mortgages, 11 major cities were at risk due to unsold housing, while in 2024 it was only one - Voronezh. This is the conclusion reached by analysts of the real estate project "Movement.<url>" based on data from the Unified Housing Construction Information System (UISWS). They studied the situation on the housing market from June 2024 to June this year in 16 Russian cities with a population of one million, adding Tyumen, which today is one of the largest real estate markets in the country.

Percentage point: developers massively refuse installment payments for housing

Some of them have also begun to reduce the attractiveness of such a product to customers.

"During this period, the volume of loans in the primary market decreased almost threefold — from 475 billion to 167 billion rubles per month, while demand for new housing decreased. At the same time, most of Russia's largest cities have increased construction volumes by 10% or more, which has led to a record increase in unsold space. The latter threatens developers with financial problems," says the study, which is available from Izvestia.

Thus, according to the document, an increase in the ratio of the sale of housing under construction to its construction readiness was recorded only in Moscow and St. Petersburg. In the capital, it grew by 1% over the year and amounted to 95% in general, and in the city on the Neva by 3%, reaching 92%.

In other cities, analysts have recorded a decrease. Although it is not yet critical for four millionaires. For example, the largest decrease in sales occurred in Nizhny Novgorod — by 36%. However, taking into account the data for 2024, this indicator remained at a high level, having decreased from 146% to 110%.

Also, the situation on the housing market in Yekaterinburg is not yet alarming — a decrease of 25% (from 110 to 85%), in Rostov-on-Don — by 28% (from 113 to 85%) and Kazan — by 22% (from 105 to 83%).

At the same time, according to the study, cities where the ratio of sales to construction readiness was 70 percent or less were at risk. Among them were Volgograd, Perm, Tyumen, Samara, Novosibirsk, Chelyabinsk, Omsk, Voronezh, Ufa, Krasnoyarsk and Krasnodar.

Read more in the exclusive Izvestia article:

We have a cancellation: 11 large cities are at risk due to the curtailment of preferential mortgages