Krasnodar, 10 January – Yug Times. According to the results of 2023, new properties in Sochi were sold at 352,500 roubles per square metre, making this the most expensive price per square metre in Russia. The Mir Kvartir (World of Apartments) portal states that at the end of the year the price in Sochi was by 8.5% higher than in January 2023. The second and the third most expensive flats, regarded by the price of a square metre, were sold in Moscow (347,800 roubles, +9.8%) and St. Petersburg (240,900 roubles, +7.3%). Krasnodar came eighth in this rating. The average cost of a square metre in the city increased by 22.2% up to 163,900 roubles. 

The experts noted that in 2023, the price per square metre in the new flats market increased everywhere except Leningrad Oblast (-0.9%). 

“In 2023, like it had been in the past, the demand and prices in the market of new buildings were supported by favourable mortgage terms. Even though its conditions got tougher, they still remain quite acceptable in most cities, so in the first half of the current year (2024), before the programme is cancelled, further price growth is possible,” predicts Pavel Lutsenko, World of Apartments’ General Director.

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