The square meter in Sochi has risen in price the most in a year – almost twice. This happened, among other things, because of the moratorium on new construction, which was announced in the city. The supply of new apartments quickly decreased, and the remaining developers raised the price tags almost to the level of the capital’s real estate. The situation is similar in Krasnodar, where the growth was 83.4% over the year.

The top ten most expensive cities also included Murmansk (+60.3%), Ulan-Ude (+53.2%), Tver (+52.1%), Novokuznetsk (+51.3%), Kaliningrad (+49.9%), Chita (+49.3%), Omsk (+47.7%) and Belgorod (+47%).

Khabarovsk (+3.2%), Nizhny Tagil (+7.4%), Makhachkala (+9.1%), Tula (+15.6%), Kurgan (+15.9%), Yekaterinburg (+16.3%), Izhevsk (+16.9%), Naberezhnye Chelny (+18.1%), Yakutsk (+18.1%) and Smolensk (+18.1%) added the least in price.

Metropolitan regions were in the middle of the list. Moscow reached the price tag of 310,890 rubles/sq. m (+26.5%), Moscow region – 155,466 rubles/sq. m (+39.6%), St. Petersburg – 197,423 rubles/sq. m (+31.3%), Leningrad region – 130,188 rubles/sq. m (+36.9%).

The average offer price of an apartment in a new building increased over the year in 68 cities out of 70, in two cities it decreased slightly: in Nizhny Tagil (-6.2%) and Khabarovsk (-4.2%).

Now only in 6 cities with a population of more than 300 thousand people, the cost of an average apartment is cheaper than 3 million rubles: in Nizhny Tagil (2.22 million rubles), Magnitogorsk (2.24 million), Makhachkala (2.81 million), Orenburg (2.81 million), Kirov (2.88 million) and Volzhsky (2.99 million). A year ago there were 19 such cities.

In the whole country for the year, the average price per square meter in new buildings is 93,563 rubles/sq. m (+32.3%), the average price of an apartment is 5.13 million rubles (+28.1%).

“Such high dynamics in the primary market is due to cheap preferential mortgages, which continue to be a good help to buyers of housing in Russian cities. In capitals where the amount of a mortgage loan with state support is not enough to purchase an apartment, there are favorable mortgage offers from developers who maintain high demand for real estate. Rising inflation also contributes to higher prices,” said Pavel Lutsenko, CEO of the portal.