In July, housing prices fell in most cities for the first time in 5 years, RBC reports.
This is the first summer in recent years when the share of large cities with negative dynamics exceeded 50%.
The decline in prices for secondary housing in the first half of 2025 is explained by relatively low demand, Valery Tumin, director of the Russian and CIS markets at fam Properties explains. Russians buy less apartments in the secondary market, since there are no discounts and flexible programs from developers, as well as state programs, with the exception of the fund, which in some cities fell under a family mortgage (and prices for which, on the contrary, increased by 15-35%). At the same time, high mortgage rates were almost barrage. As a result, prices fell by 5-10%, and the variety of exchange transactions involving 3-5 parties increased, since less money is involved in such operations, the expert emphasizes.
“For the lack of trouble with registration through the bank of mother’s capital or mortgage, apartment owners agree to provide additional tangible discounts. Especially for cash and immediately, which attracts the attention of solvent buyers, ” the specialist notes.
Nevertheless, in his opinion, the situation may change in the second half of 2025. After the key rate cut for two Central Bank Board meetings in a row, mortgage market rates have noticeably decreased to 20% or even lower. Instead of the traditional seasonal summer decline in July and August, there is an increase in demand by 15-20% compared to June.
“We also predict an increase in supply in the secondary market as the monetary rate is softened by the financial regulator. Mainly, due to the growth in the number of ads for sale from those who urgently transferred the same lots to the “rent” section last year. With the increasing availability of own housing due to lower market lending rates, a decrease in the cost of rent is possible, and many owners will revise their assets towards sale. This should more or less balance the market, where the demand postponed during the year will splash out, but a rise in prices of + 10% cannot be avoided by the end of the year, ” Valery Tumin is sure.