The difference in housing prices in the primary and secondary markets in Russia is on average about 55-60%, but in some regions it can reach 80%, reported the General Director of the Rating Agency of the Construction Complex (RASK) Fyodor Vilomov.
Based on data from the Bank of Russia, the difference in prices for new buildings and the secondary market in the second quarter of 2025 is on average 60% across the country (2200 EUR versus 1370 EUR). In central Russia, it was 80% (3,150 EUR versus 1,750 EUR).
„On average in Russia, the difference in prices between housing in new buildings and on the secondary market is about 55-60%. In certain regions and cities with a population of over a million people with developed housing construction, the difference can really reach 80%“, said Vilomov.
The expert explains the imbalance with a number of factors: preferential mortgages, which apply mainly to new buildings, increase demand and, as a result, prices. Low demand for „secondary“ is observed in the context of a high prime interest rate and expensive market mortgages. "Until the prime interest rate drops to at least 10-12%, it is difficult to talk about leveling the secondary housing market", Vilomov believes. Prices and demand are also influenced by the quality of housing, infrastructure and the quality of amenities. The increase in construction costs and the shortage of personnel exert separate pressure on the growth of prices for new buildings.
„If we simulate a situation in which a borrower cannot maintain a preferential mortgage on an apartment in a new building, then it will be difficult for him to resell it without losing money. At least, because the same preferential mortgage will not apply to him, which narrows the level of possible demand and limits the possible selling price“, noted the executive director of RASK.
The head of the territorial sales department of the A101 group of companies, Denis Zhidkov, also agrees with him, indicating that the difference between the price of housing on the primary and secondary markets in the capital region can actually reach 80%. According to him, the difference began to grow rapidly around 2020 with the advent of preferential mortgages.
The calculations of average values should be evaluated critically, and the red price of the difference between the price of housing in new buildings and on the secondary market is 30%, according to mortgage market expert Sergey Gordeyko.
„The most honest for the calculations is to take one city and region. The red price of the difference is 30%. According to the Central Bank, there is a large share of overestimation in the calculations. If you compare carefully, then for identical real estate the difference will be 20%“, said Gordeyko. According to him, preferential lending provokes an increase in the prices of new buildings, and the price difference will decrease, including if mass installment plans for new housing are excluded.
The average asking price per square meter for new buildings in the Russian Federation is 154,600 rubles, which is 20.3% higher than the average price per square meter of finished housing - 1,380 EUR, Alexander Ivanov, a leading analyst at the federal company “Etazhi“, told TASS. At the same time, the average selling price on the secondary market is lower, since against the background of the low availability of mortgages, buyers focus on properties with a maximum discount and those whose price has decreased. If we compare by transactions, 1 square meter of finished housing costs an average of 1040 EUR, and in this case the average price per square meter in new buildings will be more expensive than in the secondary market by almost 60%, the expert noted. At the same time, the sharp cancellation of preferential lending or its strict restrictions could provoke a decrease in construction volumes, and then a supply deficit, Ivanov noted.
According to Elena Chegodaeva, head of the analysis and consulting department at NDV Real Estate Supermarket, the average difference between the prices of primary and secondary housing in cities with a population of over a million is 25%. The largest is observed in Chelyabinsk - 34%, in Moscow - 31%, in Perm - 30%. However, the calculation methods of the Central Bank of the Russian Federation and individual companies and aggregators may differ, she added.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg