Analysts noted the growing demand for shared-equity construction in Russia

The number of equity contracts in construction increased by 23% year-on-year, while the number of mortgage transactions, on the contrary, decreased by 18%. This was told to Izvestia by analysts of the Metrium company, who analyzed the data from the Federal Register of Moscow for October.

"The main trend of the month was a significant increase in sales in the primary market against the background of a noticeable cooling of the mortgage segment. The ready—made housing market also showed positive dynamics and added 3% of transactions," the study says.

In just one month, 7.7 thousand equity participation agreements (DDS) were registered, which is 23% more than in October 2024, when 6.3 thousand DDS were recorded. Compared to September 2025 (7.3 thousand DD), activity increased by 5%.

Analysts at Metrium note that this dynamic indicates a recovery in the seasonality familiar to the housing market in Moscow, when buyer activity increases in the fall.

"The increase in activity in the new building market in October confirms that buyers have fully adapted to the new realities. Demand is recovering because people see that Moscow real estate remains the most reliable asset for saving and multiplying funds. Against the background of the general economic situation (with stagnation in the real sector and a gradual decrease in deposit rates), investments in square meters in high-quality projects are becoming an alternative solution. In addition, developers, in turn, offer effective financial instruments that allow you to make a purchase without involving an expensive mortgage," explained Lilia Artsibasheva, Commercial Director of Regions Development.

But in the mortgage market in October, there was a decline in activity after the September surge. 9.8 thousand loan transactions were registered, which is 18% less than in October 2024, when 11.9 thousand agreements were concluded. Compared to September 2025 (11.4 thousand transactions), demand decreased by 14%. This decrease may be due to the fact that part of the demand, which was supposed to be realized in October, was satisfied back in September amid expectations for a change in credit conditions.

"The October decline in the number of mortgage transactions is not a recession, but rather a return to normal after a tumultuous September, when many buyers forced a deal. At the same time, the average mortgage loan for new buildings in Moscow now exceeds 8.5 million rubles. This suggests that almost no one takes out a market mortgage at high rates, but combines it with a family one. However, mortgage customers appeared on the market, who were encouraged by the reduction in the key interest rate. At the same time, the reduction in the number of leveraged transactions is mainly in the secondary market. After all, family mortgages are the driver of demand only for new buildings. Buyers of primary housing in October, on the contrary, began to apply for loans a little more often," explained Larisa Shvetsova, CEO of River Park LLC.

The ready-made housing market (commissioned new buildings and secondary housing) saw a steady increase in business activity in October 2025. Almost 14 thousand purchase and sale agreements were registered, which is 3% more than in October 2024 (13.6 thousand transactions). Compared to September 2025, when the Federal Register of Moscow registered 12,000 agreements, demand increased by 17%. Thus, the ready-made housing market showed the most active growth among all segments in October.

"The October data show that the Moscow housing market has found a new point of equilibrium, and, of course, not without losses, but it has adapted to work without massive preferential mortgages. We see a multidirectional but logical dynamic. On the one hand, there is still a high demand for the final product — apartments, which is confirmed by the steady growth of transactions with new buildings and in the secondary market. On the other hand, there is a cooling in the mortgage market, which is more a normalization after the September hype, rather than a sign of a crisis. This indicates that the market has become more mature. Activity is now determined not by the availability of cheap loans, but by the real solvency of buyers and the attractiveness of offers from developers," says Ruslan Syrtsov, Managing Director of Metrium.

Construction in a row: new comfort-class buildings have almost disappeared from Moscow

At the same time, this category of housing remains the leading one in the regions.

Analysts of Grad Development said on November 14 that the average cost of 1 sq.m. The cost of housing in Moscow in October ranged from 400,000 to 1.9 million rubles. The highest average cost of 1 sq. m is traditionally noted in the Central Administrative District of the capital (1.93 million rubles). The second place is occupied by the Western District (CJSC) (700 thousand rubles).

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