The analytical center of CIAN has calculated for RBC-Real Estate and according to the results Omsk is the leader among 16 Russian cities with a population of over one million in terms of growth in the average cost of 1 sq. m in the primary housing market in the period from August 2020 to August 2021. The increase was 73% in 12 months. In August 2020, a square meter of primary housing in Omsk cost an average of 48 thousand rubles, in August 2021 – 85 thousand rubles.
The second place in the rating is taken by Krasnodar, where the price increased by 62%, to 110 thousand rubles for 1 sq. m. Third place - in St. Petersburg, where the average cost of a "square" in new buildings increased over the year by 41%, to 182 thousand rubles.
The fourth position is taken by Samara with an increase of 41% (up to 75 thousand rubles), the fifth is Voronezh with an increase of 40% (up to 75 thousand rubles). Moscow, with an increase of 33% (up to 283 thousand rubles), occupies the sixth line of the rating.
According to Aleksey Popov, head of the analytical center CIAN, “for the past year the average price of 1 sq. m. in 16 million-plus cities increased by 32%. The growth is associated with the rush demand in the fall of 2020 against the backdrop of the effect of preferential mortgages, as well as an increase in the cost of building materials. Another factor in the rise in prices is the slowdown in construction in the first half of 2021. Fewer new products entered the market in Omsk, Krasnodar and St. Petersburg than usual. It is the lack of a new supply that pushes prices upward.”
The most significant increase in the cost of the primary square meter among cities with a population of 500 thousand to 1 million inhabitants, according to CIAN estimates, over the past year was noted in Yaroslavl, Kirov and Tolyatti.
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