The expert spoke about the return of buyers to the de-luxury real estate market

A steady trend in demand is emerging in the de-luxury real estate segment: two groups of buyers are returning to deals — those who have been living abroad for more than 10 years, and those who have recently left Russia. These categories have practically disappeared from statistics in recent years, but in 2025 their activity became noticeable again. Irina Soboleva, Commercial director of Baltschug Development, told Izvestia about this on December 9.

"The change in audience composition is taking place against the background of high dynamics in the upper price segment: in the first quarter of 2025, 425 lots were sold in elite new buildings in Moscow, and the average price reached 3.2 million rubles per 1 square meter, an increase of 22% over the year. A similar situation is observed in St. Petersburg, where there is a shortage of supply and a steady interest in rare formats," she said.

Buyers who have been focusing primarily on foreign markets for a long time are returning to the deals. In recent months, about 5% of clients have returned to negotiations — buyers are reviewing their plans, choosing high-level Russian projects in rare locations as a strategically proven solution.

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A significant part of the returned demand is formed by Russians who left for Europe and the USA 10-15 years ago. According to the observations of brokers, it is in this group that the interest in luxury properties is most noticeable. Leonid Rysev, founder of the VIPFlat agency, notes that the flow of such requests has become stable in recent months.

"We see clients who have been living abroad for a long time and are now considering buying in Russia. There are examples of deals from buyers from Germany, Italy and France. US citizens are also showing interest: some have been living here for a long time, others are returning capital after a long stay abroad," said Rysev.

According to him, the decision of this audience is significantly influenced by the difference in the value of real estate against the background of the current exchange rate.

A separate part of the demand is formed by those who left two or three years ago, the same group that developers had previously mentioned. According to realtors, many of them have faced high costs, administrative restrictions and difficulties of adaptation abroad over the past two years. Despite the move, they continued to monitor the Russian market, and the changing economic conditions prompted some of this audience to return to the purchase decision.

The growing interest is reflected in the actions of developers. According to Rysev, several companies that considered reducing their presence and even selling assets in 2022-2023 are now choosing construction sites again. They prioritize locations with limited supply and stable liquidity: the historical center, island territories, embankments and private quarters.

Market participants predict a further strengthening of the trend. The cost difference with foreign markets remains, while supply in the central areas of the largest cities remains limited. According to Soboleva, these groups can occupy a stable share in the structure of demand.

"Buyers are focused on the long-term safety of capital and the stability of high-level facilities. With the current price ratio, interest in such deals will continue to grow," she notes.

On December 7, State Duma deputies from the LDPR faction submitted to the government for conclusion a bill that proposes to introduce a social tax deduction for families with children under three years of age for the purchase of children's goods.

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