In the first quarter of 2023, prices for apartments in the secondary market in the largest cities of Russia increased by an average of 3%, reaching 98,800 rubles per square meter. Experts from the World of Apartments portal told RIA Novosti that during the year the price of housing on the “secondary” increased by 8%. According to analysts, the price of one square meter in the secondary housing market has increased in 64 of the 70 Russian cities included in the study. The average offer price for the quarter amounted to 5.3 million rubles.
In Novokuznetsk, Magnitogorsk, Chelyabinsk, Astrakhan and Vladikavkaz, apartment prices by the cost of “square” increased most significantly in the quarter, amounting to +11%, +8%, +8%, +8 % and +7%, respectively. In contrast, the price per square meter of apartments in Moscow, Kaliningrad, St. Petersburg, Sevastopol and Novosibirsk fell by -2.5%, -2%, -2%, -1% and -1%, respectively.
General Director of “World of Apartments” Pavel Lutsenko noted that buyers are increasingly choosing apartments in the secondary market due to a more adequate cost. The fall in real estate prices is prevented by the issuance of money, which accelerates inflation.
