The Russian housing market is large and heavily domestic, and for most international readers the question is not price but access. The Russia property market data below describes a high-rate, sanctioned economy; listings are on the Russia property page.
Before you read any number
For buyers from many Western countries, purchasing Russian property now involves sanctions, banking barriers and government approval requirements for citizens of states Russia treats as unfriendly. Your own country's laws may also restrict payments. Anyone considering a transaction should obtain legal advice in both jurisdictions first; none of the figures below is a recommendation to buy.
Price and affordability data
Survey figures place central prices at about $2,712 per m² in 2023 and outside-centre homes at about $1,823 per m². The price-to-income ratio was 16.1 in 2024 and the price-to-rent ratio 24.0. Average net pay was about $765 a month in 2023.
These dollar values should be read with caution because the rouble has moved sharply against the dollar since 2022, and official and market exchange rates have at times diverged. For cheaper listings see cheap property in Russia and under $100k.
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Yield and credit
A one-bedroom in a central area rented for roughly $371 a month in 2024, and the gross yield was 4.2%. Against a policy rate that stood at 19% in 2024 and 20-year mortgage rates of 11.08% in 2023, that return is thin: cash deposits paid more than housing for much of the period. Subsidised family mortgage programmes have supported developers, and changes to them affect new-build demand more than resale.
Developers' off-plan sales in major cities also depend on escrow rules introduced to protect buyers, which is a structural improvement, but one that mainly benefits resident purchasers with Russian bank accounts.
| Indicator | Value | Year |
|---|---|---|
| Policy interest rate | 19% | 2024 |
| Mortgage rate (20 years) | 11.08% | 2023 |
| Inflation | 8.72% | 2025 |
| GDP growth | 1.0% | 2025 |
| Unemployment | 2.13% | 2025 |
| Government debt to GDP | 14.8% | 2024 |
Economy
GDP was about $2.56 trillion in 2025, growing just 1.0%, with output per person near $17,547. Unemployment was very low at 2.13%, a symptom of labour shortages tied to wartime mobilisation and defence production. Inflation reached 8.72%, and public debt was only 14.8% of GDP (2024). The population is about 143.5 million. Personal income tax was 13% and VAT 20% on our 2024 readings; tax rules have since changed in places, so verify.
Risks and outlook
- Sanctions and compliance: payment channels may be blocked, and counterparties can face penalties.
- Legal restrictions: foreign ownership rules have tightened for certain nationalities.
- Currency and capital controls: repatriating proceeds can be slow or impossible.
- Data quality: several indicators are older or politically sensitive.
For most overseas investors the sound conclusion is to look elsewhere, for example in the Georgia and Armenia markets that attract relocating Russian speakers. If you must proceed, read the Russia buying guide and financing overview first.
Last updated 8 October 2026