Only a third of apartments in new residential buildings across Russia have been sold, according to developer Talan, whose figures were published by Gazeta.Ru.
Talan found that 35 percent of new-build housing had been sold as of August, while 104 million square meters of multi-apartment residential property is currently under construction. At the end of 2021, 45 percent of such housing had been sold, with fewer than a third of space sold in only eight cities of over 500,000 people; that number has now risen to 23 cities.
Regional sales figures
Moscow and St. Petersburg showed the most stable results, with Moscow's rate slipping from 52 to 51 percent and St. Petersburg holding steady at 44 percent. Krasnoyarsk saw the sharpest decline, falling from 44 to 23 percent sold.
Khabarovsk's sold share rose from 43 to 48 percent, and Naberezhnye Chelny climbed from 35 to 45 percent. Sales were weakest in Grozny, at 6 percent, and Nizhnevartovsk, at just 1 percent.
Housing prices
Talan had previously calculated the average cost per square meter of housing in Russia. Prices on the primary market rose 2.4 percent, from 345,000 rubles to 354,000, while completed housing rose 2.9 percent to reach 257,000 rubles per square meter.
