In Russian millionaire cities, sales of new buildings in February grew by 14.4%
The forecasts of developers who were waiting for a serious fall in the new buildings segment after the cancellation of the mass preferential mortgage are not yet come true. In Russian millionaire cities, sales increased by 14.4%, prices by 13.2% compared with the period when housing loans with subsidized rates acted for a wide range of borrowers. Experts state that market participants adapted to new realities with abbreviated mortgage programs.
In February 2025, 19 thousand apartments were sold in new buildings with a total area of 900 thousand square meters in new buildings in new buildings. m – this is 14.4% more than a year by the year, the Yandex Real Estate and pulse of new buildings noted in a joint study of the services of Yandex Real Estate. Most transactions in natural terms were expected to be in Moscow (over 7.5 thousand, which is 63% more than a year by the year).
Next comes St. Petersburg, where about 2.3 thousand apartments were purchased. These are fewer years ago by only 1%, indicate in Dataflat.ru. According to the estimates of this analytical service, the developers of Moscow and St. Petersburg helped out 164.8 billion rubles, respectively, which is 66% more than a year by the year, and 27.6 billion rubles. (growth of 4%).
Among other millionaire cities, a noticeable number of transactions for February 2025, according to Yandex Real Estate and pulse of new buildings, was enclosed in Rostov-on-Don (1.3 thousand, an increase of 52.6%) and Yekaterinburg (1.5 thousand, which is a quarter more than a year by the year).
Current sales show the adaptation of the housing construction market to life without mass preferential mortgages and with high rates on loans with market conditions, said Yevgeny Belokurov, commercial director of Yandex Real Estate.
Today, the situation is largely saved by installments from developers, according to the head of the “pulse of sales of new buildings” Artem advisers. Now transactions using mortgage loans account for 35–40%, while a year ago – 80%, the expert states. In February 2025, mortgage loans were issued in the primary housing market for a total of 86.5 billion rubles, which was 32.7% less than a year for a year, counted in Frank RG.
The current growth of sales contrasts with forecasts made by market participants on the eve of the cancellation from July 1, 2024 of a mass preferential mortgage. Then the developers were waiting for a sharp drop in sales, and at first it was observed. But subsequently, including due to the preserved family mortgage and the introduction by developers of various installments programs, it was possible to avoid a serious crisis in the construction industry.
The February sales results are due to deferred demand, since the family mortgage transactions from December to January were postponed due to the exhaustion of limits, says Alexei Gusev, general director of Glavstroy-Real Estate. Citizens do not scare citizens and the ongoing increase in average prices in the primary housing market. In the whole country, in February 2025, the rise in price amounted to 13.2% a year by the year, said Yandex Real Estate and pulse of new buildings. So, in Moscow, growth amounted to 17.4%, up to 397 thousand rubles. for sq. m, in St. Petersburg-13.8%, up to 279 thousand rubles. for sq. m, in Kazan – 16%, up to 234 thousand rubles. for sq. m, in Nizhny Novgorod – 10.5%, up to 185 thousand rubles. for sq. m (see table).
The rise in prices is dictated by total inflation, labor deficiency and increasing cost financing costs, explains Yana Glazunova, CEO of VSN Group. The increase in prices for building materials also influenced, added by Vladimir Kravchenko, vice president of marketing “Development-South”. According to the results of 2024, building materials for panel houses went up by 7%year, for monolithic – by 4%, brick – by 5.5%, calculated in the Glavgosexpertiza.
The now observed increase in demand for primary housing is a temporary phenomenon, says Alexei Gusev.
If the developers, having believed in the long -termness of this trend, will begin to display more projects to the market, this can lead to even greater oversight of the market, say the “Kommersant” developers. The share of non -distributed housing throughout Russia is now 68% of the total volume of projects under construction against 66% a year earlier, said the commercial director of OM Development Anna Sokolova. However, the developers are trying to reduce this gap: Dom.rf state -owned companies for February 2025 show that developers throughout Russia reduced the volume of new construction projects by 31% a year by the year, to 2.5 million square meters. m.
