Housing prices in Russia by year: table, charts and gap between markets
· Жильё
At the end of 2024, a square meter in a new building cost on average across Russia 177.9 thousand rubles, on the secondary market 114.1 thousand. The difference 63.8 thousand rubles, or 56%. Already in 2016 secondary housing was more expensive than primary. Data of Rosstat.
Below the full series of prices from 2000 for both markets, analysis of when and why the markets diverged, prices by region and by housing class.
Average price per square meter: table by year
Thousands of rubles per square meter of total area, at the end of the year.
| Year | Primary market | Secondary market |
|---|---|---|
| 2000 | 8.7 | 6.6 |
| 2005 | 25.4 | 22.2 |
| 2008 | 52.5 | 56.5 |
| 2010 | 48.1 | 60.0 |
| 2013 | 50.2 | 56.5 |
| 2016 | 53.3 | 54.0 |
| 2018 | 61.8 | 54.9 |
| 2019 | 64.1 | 58.5 |
| 2020 | 79.0 | 66.7 |
| 2021 | 98.9 | 76.7 |
| 2022 | 122.3 | 94.4 |
| 2023 | 140.4 | 97.4 |
| 2024 | 177.9 | 114.1 |
Over 24 years new‑builds increased 20.4 times, secondary housing 17.3 times. Both figures are nominal, without adjustment for inflation, which over the same period was very high. Annual inflation by year is broken down in a separate summary.
The full set with breakdown by all regions is open in the dataset.
When the primary market overtook the secondary market
This is the main event in the series, and it happened recently.
From 2008 to 2016, secondary housing on average across the country was more expensive than new housing. In 2010 the gap reached 25% in favor of the secondary market: 60.0 versus 48.1 thousand rubles. The logic is simple: a ready apartment in an inhabited area is more expensive than a construction site with risk.
Since 2017 the order reversed, and the gap only grew:
- 2017: primary market more expensive by 8.7%
- 2019: by 9.4%
- 2020: by 18.4%
- 2022: by 29.6%
- 2024: by 55.9%
The acceleration occurred in 2020, when subsidized mortgage programs were launched. They applied only to new-builds, which is exactly the half of the market that moved up. The secondary market added only 3.2% in 2023, the primary market 14.8% in the same year.
Housing prices by region
Thousands of rubles per square meter in new-builds, 2024:
- Moscow: 352.7
- Saint Petersburg: 276.3
- Northwestern Federal District: 242.9
- Central Federal District: 239.8
- Far Eastern Federal District: 156.2
- Southern Federal District: 137.1
- Ural Federal District: 134.6
- Volga Federal District: 133.4
- Siberian Federal District: 131.6
- North Caucasus Federal District: 95.2
The gap between the most expensive and the cheapest district is 3.7 times. In 2000 it was 3.1 times, meaning that the geography of prices over a quarter of a century became more contrasting, not flatter.
A separate detail for Moscow: in 2023 the capital's new-build price fell from 374.7 to 340.8 thousand rubles, the first decline since 2017. In 2024 the price returned to 352.7 thousand, but did not reach the 2022 peak.
How much does a square meter cost by housing class
Rosstat divides housing by quality, and within the same market the spread is huge. Rubles per square meter, 2024.
New-builds:
- standard apartments: 149,275
- improved‑quality apartments: 182,214
- elite apartments: 362,521
Secondary market:
- low‑quality apartments: 87,572
- standard: 102,434
- improved‑quality: 125,694
- elite: 233,786
An elite new‑build is 2.4 times more expensive than a standard one and 4.1 times more expensive than a low‑quality secondary‑market apartment. The average figure for the market, 177.9 thousand rubles, falls between the standard and improved segments, closer to the improved: the share of expensive projects in total construction volume has noticeably increased.
Questions and answers
How much does a square meter of housing cost in Russia in 2024?
177.9 thousand rubles in new‑builds and 114.1 thousand in the secondary market, according to Rosstat data at the end of the year.
Why are new‑builds more expensive than secondary housing?
That has not always been the case everywhere. The turning point occurred in 2017, and the widening gap peaked in 2020, when subsidised mortgages were available only for the primary market. By 2024 the difference had grown to 56%.
Has housing ever become cheaper in Russia?
Yes, more than once. In 2009 new‑builds fell from 52.5 to 47.7 thousand rubles, in 2011 to 43.7 thousand. The secondary market fell in 2011 and 2015–2017. Moscow new‑builds declined in 2023.
How much housing is being built in Russia?
The volumes of housing delivery are broken down in the article "Housing delivery in Russia by year", which also lists recent yearly records.
How many square meters per person?
Around 30 meters, the topic is covered in the article "Square meters of housing per person".
Brief
The price per square meter of new housing in Russia has risen over 24 years from 8.7 to 177.9 thousand rubles, and of secondary housing from 6.6 to 114.1 thousand. The main change in recent years is not the growth rate, but that the two markets have stopped moving together: since 2017 primary housing has diverged from secondary, and by 2024 the gap reached 56%. Geographic dispersion has also increased: a Moscow square meter costs 3.7 times more than one in the North Caucasus.