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Russia’s economy is facing fresh turmoil as its once-buoyant property market plunges into crisis, with sales of new apartments collapsing by nearly 39% over the past year, according to new government data. From July 2024 to June 2025, just 458,727 apartments were sold across the country, representing a staggering 38.7% drop in the number of transactions compared to the previous 12 months.
The total area of property sold fell by 37.2%, down to 21.9 million square metres, according to a report by the state-owned housing firm Dom.RF. The figures are echoed by real estate platform Cian, which recorded a 39% decline in property deals year-on-year, down to 477,000 units.
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