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Real estate market in Russia - statistics & facts

The Homeownership rate in Russia has been among the highest in Europe over the past years. Amidst the coronavirus outbreak and ruble devaluation in 2020, the demand for residential real estate grew further at an average annual 12 percent, leading therefore to increased housing prices. The pandemic effects are still notable in 2021. While commercial areas have opened and offices are gradually going back to the pre-pandemic setup, the full effect of the coronavirus crisis on the Russian real estate market is yet to be evaluated.

Residential real estate

The highest average selling prices in the housing market were reported in the resort area Krasnaya Polyana at over 257 thousand Russian rubles per square meter, as of May 2021. Moscow ranked a close second with an average selling price exceeding 250 thousand Russian rubles per square meter. However, in the most expensive district of the capital – Ostozhenka, the square meter price was nearly twice as high as the city average. Interestingly, Moscow did not lead the ranking of the cities with the highest residential rent but made it in seventh place by the first half of 2021.

Commercial and industrial real estate

Vacancy rates of commercial office real estate in Moscow increased in 2020 for the first time since 2014. While the average annual rental price for prime offices in the capital amounted to 715 euros per square meter by the end of 2019, the mean annual office rent in the most expensive district in Saint Petersburg measured at roughly 280 U.S. dollars per square meter. Similar to the office vacancy rates, retail property availability has also increased in Moscow in 2020, which was not the case for the second-largest city in the country – Saint Petersburg. The high density of shopping centers in the Russian capital is confirmed by a warehousing take-up of around 46 percent by the retail sector.

Investment in real estate

The foreign direct investment flow in the Russian real estate market has been following a negatively developing trend for several years already. Hence by 2020, figures were nearly twofold below 2014 levels, at 3.9 billion U.S. dollars. Moscow remains the main hub in the market, retaining three-quarters of the total investment volume in the country. In recent years, investors gradually diverted their attention towards the office real estate segment, which retained about half of financial funding in 2020.

Key figures

The most important key figures provide you with a compact summary of the topic of "Real estate market in Russia " and take you straight to the corresponding statistics.

Residential real estate

Commercial and industrial real estate

Interesting statistics

In the following 5 chapters, you will quickly find the 35 most important statistics relating to "Real estate market in Russia ".

Real estate market in Russia

Dossier on the topic

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Real estate market in Russia - statistics & facts

The Homeownership rate in Russia has been among the highest in Europe over the past years. Amidst the coronavirus outbreak and ruble devaluation in 2020, the demand for residential real estate grew further at an average annual 12 percent, leading therefore to increased housing prices. The pandemic effects are still notable in 2021. While commercial areas have opened and offices are gradually going back to the pre-pandemic setup, the full effect of the coronavirus crisis on the Russian real estate market is yet to be evaluated.

Residential real estate

The highest average selling prices in the housing market were reported in the resort area Krasnaya Polyana at over 257 thousand Russian rubles per square meter, as of May 2021. Moscow ranked a close second with an average selling price exceeding 250 thousand Russian rubles per square meter. However, in the most expensive district of the capital – Ostozhenka, the square meter price was nearly twice as high as the city average. Interestingly, Moscow did not lead the ranking of the cities with the highest residential rent but made it in seventh place by the first half of 2021.

Commercial and industrial real estate

Vacancy rates of commercial office real estate in Moscow increased in 2020 for the first time since 2014. While the average annual rental price for prime offices in the capital amounted to 715 euros per square meter by the end of 2019, the mean annual office rent in the most expensive district in Saint Petersburg measured at roughly 280 U.S. dollars per square meter. Similar to the office vacancy rates, retail property availability has also increased in Moscow in 2020, which was not the case for the second-largest city in the country – Saint Petersburg. The high density of shopping centers in the Russian capital is confirmed by a warehousing take-up of around 46 percent by the retail sector.

Investment in real estate

The foreign direct investment flow in the Russian real estate market has been following a negatively developing trend for several years already. Hence by 2020, figures were nearly twofold below 2014 levels, at 3.9 billion U.S. dollars. Moscow remains the main hub in the market, retaining three-quarters of the total investment volume in the country. In recent years, investors gradually diverted their attention towards the office real estate segment, which retained about half of financial funding in 2020.

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