The average cost of residential real estate in Russia, measured per square meter, was approximately 171,200 Russian rubles for new construction and 110,100 Russian rubles for second-hand properties in the second quarter of 2024.
Understanding the "average cost of a house" in Russia typically involves looking at the price per square meter, as the total cost varies significantly based on the property's size, specific location, and whether it's a newly built home or an existing one. These figures represent the market situation for residential properties across the country.
Residential Real Estate Average Prices in Russia (Q2 2024)
| Property Type | Average Price per Square Meter (RUB) |
|---|---|
| New Construction | 171,200 |
| Second-Hand | 110,100 |
Note: These prices reflect the average square meter cost for residential estate, including various property types beyond just detached houses, such as apartments, across Russia.
When considering the total cost of a house, one would multiply the average per-square-meter price by the desired living area in square meters. For example:
- A newly built house with a living area of 100 square meters could cost approximately 17,120,000 Russian rubles (100 m² multiplied by 171,200 RUB/m²).
- A second-hand house with a living area of 100 square meters could cost approximately 11,010,000 Russian rubles (100 m² multiplied by 110,100 RUB/m²).
These examples illustrate how the total price fluctuates based on the property's size, providing practical insight into calculating potential housing costs in Russia. It's important to remember that these figures are national averages, and actual prices can vary considerably in different regions or major cities.
