Real estate market in Russia, Q3, 2020
The third quarter of 2020 in the real estate market was marked by a sharp revival of demand and activity, according to a joint study by SberIndex and DomClick by Sber. Between July and September asking prices increased by 4.1% y-o-y.
The primary market was the driver throughout the three months, with prices soaring 8.6% y-o-y. By the end of the quarter, demand intensified in the secondary market as well. The cost per square meter here added 3.7% y-o-y, while the share of transactions increased by 5 pp a month. These figures are based on the median price per square meter from DomClick by Sber.
In September, the median offer price in the market for new homes remained at RUB80,000/m2. Taking into account the typical seasonality, this corresponds to the figures observed in the market before the pandemic. In the secondary market, the metric grew by 1.6% m-o-m up to RUB63,500.