Housing prices in a third of Russian regions experience a decline
Secondary Housing Market in Russia Sees Decrease in Prices
In the second quarter of 2025, the average square meter price on the secondary housing market in several regions of Russia experienced a decline. According to data from DK.RU, the average price decreased by 10% to 92,000 rubles in Kaluga Oblast, and by 5% to 84,000 rubles in Murmansk Oblast.
The decrease was also observed in Krasnodar Krai, where the average price fell by 9% to 175,500 rubles. In addition, the average price decreased in Tver Oblast, Jewish Autonomous Oblast, Kalmykia and Tuva Republics, St. Petersburg, Adygea, Karelia, Astrakhan and Nizhny Novgorod Oblasts, and North Ossetia.
These price drops follow a trend of sellers lowering their prices on the secondary housing market in 2025, as demand shifted towards new builds, which can be mortgaged under a preferential program.
The decrease in average square meter prices on the secondary housing market can be attributed to weak demand due to high mortgage rates, as highlighted by Vladimir Chernov, an analyst at Freedom Finance Global.
The total volume of overdue mortgage debt in Russia has also increased, with DK.RU reporting that it rose from 95 billion rubles to 145.2 billion rubles (+65.43% from the beginning of the year). This increase in overdue debt, coupled with the weak demand, has put approximately 20% of Russian developers at risk of bankruptcy, with up to 30% at risk if demand continues to fall.
Primary market buyers are also facing difficulties in servicing their mortgages, as reported by DK.RU. The analyst at Freedom Finance Global who highlighted this trend for residential real estate this year remains unnamed, and the time period of the analysis is also not specified.
The secondary market situation remains tense, with the average discount level in secondary market transactions reaching a record high of 6.5% this summer, according to Etagi company data.
Sources for this information include Dzen, Dzen.Novosti, email newsletter, Telegram, and VKontakte.
