The demand for apartments in new buildings in Russian cities with a population of over one million people increased by 16% in October 2025 compared to September, according to a report by bnMAP.pro, a system for monitoring and analyzing the new construction market.
“A total of 27,900 lots were registered in new construction transactions in 16 megacities in October, which is 16.5% more than in September“, the report notes.
The total area of completed new buildings exceeded 1.27 million square meters - 15.3% more than in September.
Sales growth was noted in all cities except Nizhny Novgorod, where a slight decline was recorded. The highest relative growth (in percentage terms) was recorded in Volgograd (almost double), Omsk (49%) and Rostov-on-Don (48%).
Analysts explain that there are several main reasons for this growth. Firstly, the gradual reduction in the base interest rate, which has made mortgage rates somewhat more comfortable. Secondly, the influence of information about changes in the conditions of family mortgages: some buyers rushed to buy an apartment, as the new conditions will make it much less profitable. Discounts and promotions from developers who managed to “seize the moment” also had a certain impact. These reasons are supported by the fact that the highest growth rates were observed in cities with a predominant share of new construction in the mass market segment, which is most dependent on affordable mortgages.
According to experts, the average price per square meter in new construction in the studied cities in October was 189,600 rubles, which is 0.7% more than in September. The average price of a plot in transactions increased by 0.5% to 8.6 million rubles. The highest average price of a plot in transactions in October, as always, was recorded in Moscow - 21 million rubles. St. Petersburg is in second place with 11.9 million rubles, and Kazan is in third (10.8 million rubles). The most affordable new buildings were found in Volgograd (average price 5.8 million rubles) and Voronezh (6.7 million rubles).
The number of mortgage contracts in Moscow decreased by almost 18% in October compared to the same period last year, according to a statement from the Moscow office of Rosreestr.
„In October 2025, Rosreestr Moscow registered 9,774 residential mortgage contracts. This represents a decrease of 14.1% compared to the previous month (11,372). This figure also decreased by 17.9% compared to October 2024 (11,900)“, the report notes.
In January-October 2025, 99,172 mortgage loan contracts were registered on the primary and secondary real estate markets. This figure is comparable to the first 10 months of 2024 (-1.6% compared to 100,793).
“The change in the Central Bank's key interest rate has not yet led to a clear revision of the conditions of housing loans, and market mortgage interest rates remain quite high. In the current circumstances, buyers are more likely to take out a mortgage to pay extra for alternative transactions. “Improving their housing conditions on the secondary market, Muscovites choose ready-made, modern projects with repairs that are widely available in the capital“, said the statement of Igor Maidanov, head of the Moscow office of Rosreestr.
According to Vladimir Efimov, deputy mayor of Moscow for urban development and construction policy, Moscow remains the leader among Russian regions in terms of the volume of housing loans subsidized by the state. “Under the “Family Mortgage“ program, 422.8 billion rubles were allocated in the capital from January to October 2025 - 19.3% of the national total under this program and 18.8% of all subsidized mortgage loans in the country.“ “In total, the city has granted over 3.1 trillion rubles in such loans since the beginning of the programs“, Efimov noted.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg