Analysts said prices were stagnating in the secondary housing market

In July, prices on the secondary housing market in million-plus cities stagnated amid rising demand. This is the conclusion reached by the analysts of the Yandex Real Estate service. The results of the study were reviewed by Izvestia on August 6.

"The median cost per square meter of ready-made housing on average for millionaires was 143 thousand rubles (+0.3% compared to June). At the same time, the volume of supply in the market of these cities decreased slightly over the month — by 1%. Moscow became the leader in the growth of the cost per square meter per month among millionaires (+1.6%, up to 368 thousand rubles), Perm came in second place (+1.2%, up to 111 thousand rubles), and St. Petersburg came in third (+1.1%, up to 219 thousand rubles)," the report says. research.

It also notes that price dynamics close to stagnation (fluctuations from -0.5 to +0.5%) in the secondary market were recorded in seven of the 16 Russian megacities. So, in Voronezh (+0.5%, up to 106 thousand rubles), Novosibirsk (+0.4%, up to 123 thousand rubles), Krasnoyarsk (-0.1%, up to 121 thousand rubles), Chelyabinsk (-0.2%, up to 99 thousand rubles), Rostov-on-Don (-0.2%, up to 123 thousand rubles) and in Volgograd (-0.5%, up to 95 thousand rubles). But in Kazan, the price did not change and amounted to 187 thousand rubles.

"In July, the secondary market remained in a stagnation phase: the median cost per meter and the volume of supply remained almost unchanged. At the same time, we are witnessing a revival in demand: since June, when the key rate began to decrease, views of the cards of ads for the sale of ready—made apartments, as well as phone numbers of sellers of these apartments, began to grow: in July, compared to May, the growth in views of sellers' contacts across the country was 14.3%," explained the commercial director of Yandex Real Estate Evgeny Belokurov.

Valuable time: the cost of housing in the secondary market has decreased

Among the reasons are the summer season and the growing number of alternative deals, experts believe.

According to him, it can be concluded that there is a pent-up demand effect in the housing market right now: the beginning of a rate reduction cycle may signal buyers about the possibility of refinancing a loan in the future, which encourages them to take more active action. Probably, with the beginning of the autumn season, activity in the secondary market will continue to recover, suggested Belokurov.

The cities with the most expensive square meters on the secondary market remain Moscow (368 thousand rubles per 1 sq. m.), St. Petersburg (219 thousand rubles per 1 sq. m.), Kazan (187 thousand rubles per 1 sq. m.), Nizhny Novgorod (141 thousand rubles per 1 sq. m.) and Yekaterinburg (127 thousand rubles per 1 sq. m.). "Squares" of less than 100 thousand rubles in the secondary real estate market of millionaires are sold only in Volgograd (95 thousand rubles per 1 sq. m.) and Chelyabinsk (99 thousand rubles per 1 sq. m.).

On July 29, analysts at Metrium recorded a record decrease in the share of mortgage transactions in the primary market of "old" Moscow in the first half of 2025. This is the lowest result since the first half of 2019, when the indicator dropped to 47%. At the same time, the share of mortgage transactions in the premium class sank to a minimum in the history of the market - 16%.

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