A Quiet Reversal: Why Demand for Pre-Owned Housing Rose by Almost 20%
The Real Estate Market Rarely Makes Bold Statements. According to data from Roskadastr, cited by Avito Real Estate, 568,793 transactions were completed in Russia's secondary residential property market during the first five months of 2026. This represents a 19% increase compared to the same period a year earlier. Not long ago, the conversation was focused almost exclusively on new-build developments, while existing housing remained largely in the background. Today, the picture is beginning to change.
What the Data Actually Shows
An important clarification is needed from the outset. The figure of 568,793 refers to officially registered transactions processed through Rosreestr and recorded by Roskadastr.
Where did this trend begin? At the beginning of 2025, Avito reported approximately 10% growth in demand for secondary-market housing, which was already considered a positive signal. The trend not only persisted but evolved from buyer interest into actual purchases. The increase in transaction volume reflects more than simple demand growth. It indicates a broader market recovery: people are moving again, upgrading or downsizing their homes, and making long-term plans. For any real estate market, mobility is one of the strongest indicators of health.
The Main Driver: More Affordable Mortgages
The key factor behind this resurgence is mortgage financing.
According to Avito Real Estate, average market mortgage rates declined from 28% to 16.9% over the course of a year.
The numbers speak for themselves. Consider a RUB 5 million mortgage with a 30-year term. At a 28% interest rate, the monthly payment would be approximately RUB 117,000. At 16.9%, the payment falls to around RUB 71,000. The difference is substantial—bringing mortgage financing back within reach for many buyers who had effectively been priced out of the market a year earlier.
The market responded quickly. By February 2026, the number of mortgage applications submitted through Avito for the purchase of existing homes was 20% higher than a year earlier. The share of mortgage-backed transactions in the secondary market increased by 1.6 times.
Existing homes became financially attainable again—and buyers took notice.
There is also a psychological dimension. Purchasing a new-build property requires a degree of faith: buyers pay today for something that may not yet exist and then wait for completion. In the secondary market, buyers can inspect the actual apartment, the building entrance, and the view from the window. They can move in immediately, without waiting months or years. Once mortgage payments become manageable, the appeal of "here and now" often outweighs the promise of a future delivery.
Secondary Market vs. New Builds: Why Buyer Preferences Shifted
For several years, Russia's primary residential market benefited from heavily subsidized mortgage programs that made new-build properties financially more attractive than completed homes almost by default. As long as this equation held, many buyers had effectively made their decision before viewing a single property.
As access to preferential mortgage programs narrowed and market rates began to decline, the gap between the primary and secondary markets started to shrink.
Buyers recalculated.
An apartment that can be occupied tomorrow began competing more effectively with a building still under construction. When monthly payments become comparable, many buyers prefer the certainty of a tangible, completed asset. The Roskadastr figures are, in many ways, the result of this reassessment multiplied across hundreds of thousands of households.
Who Is Buying—and What Are They Choosing?
Earlier Avito research indicated that the strongest demand growth was concentrated in one-bedroom apartments and studio units, with interest increasing by approximately 17% and 16%, respectively.
Smaller properties offer both a lower entry price and stronger liquidity, making them easier to resell or lease.
Regional data confirms the same trend. In Saint Petersburg, for example, Avito reported an 18% year-on-year increase in demand for secondary-market housing. Compact formats led the growth: demand for one-bedroom apartments rose by 31%, while studio apartments increased by 29%. Two-bedroom apartments gained 22%, and three-bedroom units approximately 17%.
Prices have been following demand. By the end of April 2026, the average asking price for a one-bedroom apartment in Saint Petersburg's secondary market stood at RUB 10.7 million. Studio apartments averaged RUB 7.1 million, two-bedroom units RUB 15.6 million, and three-bedroom apartments approximately RUB 21.5 million.
The trend is clear: demand for compact formats remains strongest, and prices are responding accordingly. The market simply follows buyer preferences.
What Is Happening to Prices?
According to Avito Real Estate analytics, the average secondary-market apartment in Russia was valued at approximately RUB 7.7 million per unit, or around RUB 133,000 per square meter.
Regional disparities remain significant.
Among the most affordable cities were Smolensk, Ulyanovsk, and Bryansk, where average apartment prices were approximately RUB 4.1 million. At the opposite end of the spectrum stood Moscow, where the average transaction value reached RUB 34.8 million.
Seller behavior is also evolving. Avito Real Estate expects competition among secondary-market sellers to intensify as supply begins to recover alongside demand, forcing vendors to compete more actively for buyer attention.
What About the Premium Segment?
An important distinction must be made here—one based on observations from the Consulting and Analytics Department of Ashtons International Realty.
The trends discussed above primarily reflect the mass market, where mortgage financing plays a central role. The premium and deluxe segments operate differently.
High-end properties are often purchased with cash, making mortgage-rate fluctuations a less significant factor. Yet an interesting pattern is emerging: demand is also shifting toward completed properties in the luxury sector, albeit for different reasons.
Affluent buyers value many of the same qualities as mainstream purchasers—only to a greater degree. They want the ability to move in immediately, inspect a specific apartment in person, choose a particular floor, and secure a particular view. The appeal lies not in "a home that will be delivered next year," but in "this residence, available today."
In practice, premium secondary-market opportunities are rarely found on public listing portals. They often exist within private inventories: assignment sales in boutique developments under construction, trophy residences in completed projects originally acquired during the launch phase and later brought back to market, apartments with terraces, duplex layouts, or exceptional panoramic views.
Such properties seldom appear in open advertising channels. They are typically traded within a limited circle through trusted professional networks.
Based on our observations, demand for these assets continues to grow. The more uncertain the broader economic environment becomes, the greater the appeal of a completed, tangible, and proven property.
There is another important consideration.
Within the premium segment, secondary-market opportunities can sometimes be more attractive than primary-market offerings. The most desirable units—those with superior views, optimal layouts, favorable orientations, and prime floor levels—are usually sold first during the initial launch phase. Years later, these same units may return to the market through resale transactions.
As a result, buyers entering the market at a later stage may gain access, through private inventories and specialized agencies, to properties that would have been unavailable during the original sales campaign.
This is one of the key advantages of working with an agency that has access to off-market opportunities and established relationships within the luxury sector.
A Shared Direction Across Market Segments
Ultimately, both the mass market and the premium segment are moving in the same direction.
Whether purchasing with mortgage financing or cash, buyers increasingly value a result they can see, evaluate, and take possession of immediately.
In today's market, certainty has become one of the most valuable assets of all.
What Comes Next — And What Buyers Should Do
First, the growth of the secondary market is not a short-lived spike but a sustained trend supported by officially registered transactions. Importantly, Avito Real Estate bases its analysis on data from Rosreestr and Roskadastr. This is not a reflection of market sentiment or survey results—it is activity documented and recorded in official government registries.
Second, as mortgage rates for existing homes continue to decline, buyers retain a strong incentive to act. The current trend still appears to have room to run.
Third, for those considering a purchase today, the market presents something of a window of opportunity. Mortgage rates are significantly lower than they were a year ago. The secondary market offers a broad range of options, while increasing competition among sellers is working in buyers' favor.
There is, however, one important caveat. In the premium segment, the most desirable opportunities rarely make it to the public marketplace. They are not typically found on listing portals or major property aggregators. Instead, they are secured by buyers working with professionals who have access to private inventories, off-market opportunities, and assignment sales at the early stages of development.
Finally, national statistics should always be viewed as averages. Behind the headline numbers lie highly diverse local markets, each with its own dynamics. There is no universal answer to the question of whether it is better to buy now or wait. The right decision depends on the specific city, the specific building, and ultimately the specific property.
That said, the broader market trend currently favors buyers who are prepared to act decisively while maintaining a disciplined approach to financial planning.
