Moscow’s primary real estate market continues to sink deeper into decline. Despite a modest month-on-month uptick in June — deals rose 6.4% compared with May, reaching 7,850 registrations, according to the city’s Rosreestr office — the yearly and two-year trends remain sharply negative.
Compared to June 2024, the number of transactions fell by 44.7%, and by 28.1% against the same month in 2023. The residential sector has been hit hardest: -48.3% year-on-year and -30.6% versus 2023. Non-residential property showed a softer but still steep drop: -34.8% and -21.7%, respectively.
Half-year figures also paint a bleak picture. From January through June 2025, 55,620 deals were registered on the primary market — down 19.3% from last year and 17.3% from the year before.
Developers are scrambling to reignite buyer interest, experimenting with everything from aggressive discounts to rethinking their product designs. Yet the market is showing classic symptoms of overheating and oversupply — while buyers, for now, are choosing to wait it out.