A real estate expert named the reasons for the rise in price of luxury housing in Moscow

Over the past three years, Moscow's luxury real estate market has demonstrated a significant strengthening of its position in the global ranking: the capital of the Russian Federation has risen from 18th to fifth place in terms of the cost of high-budget housing, ahead of such global centers as London, Paris and Shanghai. This growth is due to several factors at once. Valery Tumin, Director of the Russian and CIS Markets at Pham Properties, told Izvestia on April 24.

Among the key ones are the return of capital to Russia amid sanctions pressure, as well as the desire of wealthy investors to protect funds from inflation in the face of a record high key interest rate. Under these conditions, luxury real estate has actually become one of the most understandable capital preservation tools.

"At the same time, the market remains heterogeneous. In the first quarter of 2026, Tagansky district showed the greatest dynamics, while Ramenki showed an increase of 7.4% over the quarter. Arbat reached the level of 2.88 million rubles per square meter. By the end of 2025, the most active price increases were recorded in Presnensky district (+36.5%), Tverskoy (+26%) and Arbat (+15%)," the expert noted.

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He singled out Khamovniki separately, where by March 2026 the weighted average price reached 2.38 million rubles per square meter, an increase of 24% over the year. According to Tumin, it is the central areas with a limited volume of ready supply that form the price guide for the entire segment. In the deluxe class, the average cost is already about 3.2 million rubles per square meter.

At the same time, there remains a shortage of new supply. In the first quarter of 2026, only five new projects entered the market, and on a small scale, which did not have a significant impact on the total volume of the exhibition. By the end of 2025, the offer in the premium segment increased by only 2%, while in the deluxe class it decreased by 4%.

According to Tumin, against the background of limited supply, a decrease in the number of transactions is recorded: in the first quarter of 2026, the figure fell by 45% year-on-year. Buyers are becoming more selective, preferring compact but high—quality lots - the average transaction area has dropped below 100 square meters for the first time in four years.

The NF Group consulting company told TASS on April 23 that the price of luxury housing in Moscow has updated its historical maximum, reaching 2.26 million rubles per square meter. Over the year, the cost increased by 9%.

Analysts of the investment and real estate company Est-a-Tet also stated that the volume of luxury housing supply in Moscow in the first quarter of 2026 for the first time exceeded the same indicator of the comfort class segment. Thus, 129.5 thousand square meters of new supply entered the primary market of the capital. The number of business class lots accounted for 42% of this volume, premium class — 23%, elite segment — 18%, comfort class — only 17%.