- Статьи
- Society
- Luxury replenishment: prices for luxury housing have increased by almost a third in a year
Luxury replenishment: prices for luxury housing have increased by almost a third in a year
In the primary luxury real estate market, the cost per square meter has increased by almost a third over the year, amounting to 2.1 million rubles, analysts said. Experts attribute this trend to high demand. Sales increased 2.5 times over the year, while purchases in other segments became less frequent, although the cost of the "square" increased. About who is buying expensive real estate and why - in the material of Izvestia.
How the price of luxury housing has increased
The average cost per square meter in the luxury real estate segment increased by 27% over the year and exceeded 2 million rubles, Kalinka Ecosystem told Izvestia based on an analysis of the entire Moscow market.
— Over the past year, prices have been actively increasing in almost all luxury projects, both deluxe and premium. This is due to both the high demand for such facilities and the emergence of new offers in expensive locations, as well as the expansion of sales tools," explained Alexey Chumalov, CEO of Kalinka Russia.
At the same time, according to the Est-a-Tet real estate agency, the growth in the elite segment is above average — 31.7% per year. According to Vladimir Morebis, the company's commercial director, new buildings in the premium class have risen in price by 14.6% over the year, and in the business class by 13.1%.
And according to the developer Tekta Group, from May 2024 to May 2025, apartments in the premium segment rose in price by 63.1% and reached 1.4 million rubles per square meter. Deluxe class apartments have become more expensive by 22.3% over the year, and business class apartments by 18.3%.
During the year, the volume of apartment sales in the elite increased 2.5 times, according to analysts at the Tekta Group.
— The interest in the deluxe segment is explained by a number of factors. Among them are limited opportunities to invest in stock markets and the repatriation of capital due to foreign sanctions," said Elizaveta Sevastyanova, the company's commercial director. — In addition, against the background of macroeconomic instability, luxury real estate has become one of the most reliable ways to save capital.
A drop in demand was recorded in all other segments of the capital's market in April.
The largest share of sales in April this year was taken by the business class — 72% of the total volume, according to Whitewill analysts. The average price in this segment was 542 thousand rubles per square meter— which is 14% higher than a year earlier.
— Sales were affected by a decrease in the market entry of a new offer, — said Ekaterina Levina, the company's top broker. — The exposition is blurring, and, judging by the current situation, significant volumes are not expected in the near future.
According to her, against the background of falling sales in other segments, deluxe turned out to be in the black.: demand doubled compared to April last year, and the average price increased by 14%.
The luxury real estate market is very active now, said Yana Glazunova, CEO of VSN Group.
"While there was a pandemic, new projects did not replenish this segment at all, so they are still increasing their volumes," she said. — In conditions of economic instability and currency fluctuations, Elite remains a stable asset. In addition, wealthy Russians have faced difficulties in withdrawing capital after the start of their business.
What else is in demand
Price growth continues in the premium segments of suburban real estate, said Olga Ivanova, Head of Bn Group (AFK Sistema).
— This can be explained by the release of a new, more expensive offer and the "washing out" of lots against the background of increased demand, — said the expert. — In the secondary market of premium suburban real estate, where many lots are still displayed in foreign currency, this year we are seeing a correction and a decrease in prices caused by the strengthening of the ruble.
In other, more budgetary segments, the situation is not easy after the cancellation of the preferential mortgage program in 2024. Thus, according to Frank RG, by the end of March 2025, the volume of mortgage loans issued for residential housing, land plots and finished houses decreased to 14 billion rubles. This is about a third less than in February and almost six times lower than in the same period last year.
In the comfort and business segments, the price increase occurred within the inflationary price increase, said the director of residential real estate CORE.XP Ekaterina Lomteva.
— The target audience of these classes is price-sensitive. Despite the qualitative changes in new projects, that is, the emergence of more services for residents, increased glazing, and scenic landscaping, developers strictly control the cost of projects," she said.
According to the MR Analytics center, over the past year, the average price of a "square" in the primary market of Moscow in all segments has increased by 24%. As of April 2025, the cost per square meter on sale has reached 683 thousand rubles. Comfort class increased by 8% over the year, to 352 thousand per square meter, business class — also by 8%, to 516 thousand rubles.
The interest of developers and buyers is shifting towards business class and higher, added Leonid Savkov, Deputy General Director for Sales and Digital Marketing. According to him, in the current geopolitical situation, capital is accumulating inside the country.
"In other words, premium and deluxe real estate is becoming an effective tool for saving and increasing money,— he said.
The economy and comfort class housing market is supported solely by family mortgages and installments from developers, said Mark Zavodovsky, co-founder of BAZA Development. Moreover, the share of mortgage transactions has been growing recently, which indicates a decrease in the amount of available money from customers.
"A significant share of the total sales is occupied by private investors, who purchase lots at minimum prices at the start of sales," he said.
Why are they buying up luxury real estate
According to analysts, no new comfort class projects have been launched in Moscow since the beginning of this year, said Elena Komissarova, CEO of BEL Development.
—The current situation with mortgage programs and the growing key interest rate has not greatly affected buyers in the business and elite segments," she said. — High-class buyers purchase square meters with free capital or in installments. Increased sales in more expensive segments signal continued demand for Russian real estate.
The portrait of the buyer has also changed — new wave businessmen have appeared with money from newly opened businesses.
"Family apartments of 150-200 m with good housing and in prestigious areas have become popular," the expert added. — There has been a shift away from gigantomania, housing has become more compact.
High consumer activity in expensive housing segments is due to the emergence of new interesting projects on the market, the obsolescence of luxury projects built in the early 2000s, and the desire of their owners to renovate their homes, Vladimir Morebis added.
The growth in sales and prices of luxury real estate during the crisis is not a paradox, but a manifestation of the uneven distribution of capital and different purchase logic, says Valery Ruchiy, head of sales at UNIQ Development.
— The mass segment is more susceptible to dependence on external factors, in particular, on the cost of mortgages for buyers. At current rates, a decline in sales is quite logical," he said. — In the elite segment, mortgages accounted for no more than 30% of transactions, but now almost 100% of sales are carried out by installments.
For buyers of apartments in typical new buildings, the increase in the cost per square meter is a real problem, said Viktor Timofeev, commercial director of the developer Radiance.
— The premium housing segment is another matter, where materials are also becoming more expensive, developers are feeling the effects of an increase in the key rate and an increase in the cost of lending, but the market always feels more confident, and the company can set prices based on the characteristics and content of the residential complex, — the expert believes.
Expensive real estate is bought up without attracting loans — these are most often purchases for cash, including from individuals returning capital to Russia or rushing to settle in a "quiet harbor," says Valery Tumin, director of Russian and CIS markets at fam Properties.
"Secondly, expensive real estate has become perceived as an alternative tool for saving capital, especially against the background of restrictions on investments abroad," he said.
In addition, a significant part of the transactions are relocations from regions, especially from the north and east of the country, to more comfortable climatic conditions in Moscow, St. Petersburg, Sochi or Kazan, the expert added.
Переведено сервисом «Яндекс Переводчик»
