Experts warned about stagnation of prices for new buildings

The growth in prices for primary real estate in Russia slowed in April to 0.6% — the growth rate in the segment of new buildings has been decreasing for the fourth month in a row, according to the results of a study by Domclick and the Sberbank Financial Analytics Center.

"We believe that the warming up period observed at the end of 2025 has been completed, and prices will grow at a moderate pace or even stagnate in the coming months. During the month, the price of a "square" in new buildings increased to 188.9 thousand rubles, in ready—made housing - to 124.6 thousand rubles. The annual growth was 9.8% and 9.2%, respectively. Prices in both segments continue to rise faster than official inflation," the analysts said.

According to their estimates, against the background of lower market rates, "fresh" secondary housing successfully competes with primary housing. The price of a "square" in houses built over the past ten years has become 1.8% cheaper than in new buildings — the median cost is 1 sq.m. The price increased to 185.5 thousand rubles. The annual increase was 41% — this is due to the low base of April 2025, when the launch of the family mortgage program for finished real estate in newly built houses led to the washing out of the most budget lots in this category, experts explained.

Experts also drew attention to the fact that the share of monthly sales from the total construction volume remained at a low level — 1.4%. The year—on-year decrease was 23.3% YoY. "This is due not only to low sales rates, but also to an increase in the number of new facility launches, which increases the risks of insufficient sales in the future," Domclick commented. By the end of April, 82.9 million square meters remained unsold in new buildings. The housing measure returned to the historically record levels of October-December 2025. With this trend continuing and in the face of growing competition from secondary housing, developers can only hope for a new period of high demand, analysts concluded.