There is no collapse in property prices in Russia
There is no collapse in property prices in Russia: new construction increased by 8% and secondary housing by 9% during the first half of 2026, while prices in Moscow stagnated, according to RiaNews leading analyst Natalia Milchakova from Freedom Global. The Central Bank described housing prices in the Russian Federation as shocking.
Consensus
- Prices for residential real estate in Russia increased during the first half of 2026 compared to the same period in the previous year.
- New construction prices rose by 8% annually across most regions of Russia in the first half of 2026.
- Secondary housing prices rose by at least 9% annually across most regions of Russia in the firsthalf of 2026.
- In Moscow, residential property prices are stagnating rather than declining or rising significantly.
- The Russian Central Bank has expressed concern about high housing prices, describing them as 'shocking'.
- Market adjustments are underway due to changes in government support programs and shifts in mortgage financing.
Points of divergence
- Prices for secondary housing in Russia increased by 10% in the first six months of 2026, according to Konstantin Barsukov. — vm
- The Central Bank of Russia described housing prices as 'shocking' and noted that sales volumes have stabilized at around 1.9 million square meters per month after peaking at 2.5–3.5 million square meters. — m24
- Young people in Moscow are increasingly choosing rental over homeownership due to affordability, with renting being cheaper than mortgage payments under current conditions. — vm
Coverage (4 sources)
- Analyst: There is no collapse in housing prices in Russia; new developments are becoming more expensive — РИАМО
- Housing in Russia has not become cheaper: mortgages at 19% eat up any discounts — РИАМО
- Real Estate Broker Barsukov Foresees Further Rise in Secondary Housing Prices in Russia — Вечерняя Москва
- Central Bank Calls Housing Prices in Russia Shockingly High — Москва 24
Key entities
- Russia
- Moscow
- RIAMO
- Aleksandr Danilov
- Konstantin Barsukov
- Central Bank
- Bank of Russia
- Freedom Global
- Natalya Milchakova
- Realtor Guilds