Demand for existing luxury housing in Moscow jumped 61 percent during the first eight months of 2026 as Russian bank depositors shifted funds into high-end real estate.
Individual account holders withdrew more than 1.1 trillion rubles from the domestic banking system across the spring and summer months of 2026, according to statements from property developer Donstroy reported by its press service. A major share of those withdrawn funds has flowed directly into the capital city's high-budget residential property market.
Speaking at a real estate investment conference organized by commercial publishing group Kommersant, Vyacheslav Belozerov, head of the sales department at Donstroy, stated that the shift in capital was reflected in secondary market sales figures from January through the end of August 2026 compared to the corresponding period in 2025.
Shifting capital into luxury property
Market analysts and real estate experts view the movement of capital from bank deposits into luxury property as a fundamental shift in investment paradigm rather than a short-term spike in buyer interest.
Belozerov said property developers have responded to changing market dynamics by directing their primary resources and core competencies into elite residential projects. During the first half of 2026, developers launched 13 new premium and elite class projects in the capital market, representing a 3.3-fold increase over the previous year.
Donstroy is one of Moscow's leading property developers, specializing in high-rise residential towers and luxury urban housing projects. Moscow is Russia's largest real estate market, where prime residential property frequently serves as a preferred tangible store of value for affluent domestic buyers seeking alternatives to bank savings.
Rising prices and buyer expectations
Entry prices across the luxury residential sector have continued to climb alongside rising sales activity. The price per square meter in the premium property segment has surpassed one million rubles, while prices in the deluxe segment have exceeded 2.7 million rubles per square meter.
In property terminology, the secondary real estate market refers to existing homes offered for resale by individual owners, in contrast to primary market units purchased directly from construction developers off-plan or upon completion.
Belozerov noted that buyers in the high-end market have also become increasingly demanding. He explained that beyond the physical residence itself, clients now prioritize architectural styling, surrounding infrastructure, internal project ecosystems, developer track records, and flexible financial purchasing options.
Tightening supply in elite housing
The influx of capital into home purchases follows earlier signs of tightening supply across the capital's high-end property sector. Previous market reports showed that Moscow experienced a shortage of available luxury rental apartments as inventory on the elite rental market ran low.
