70% of apartments on the primary housing market in Russia remain unsold due to lower demand - State Duma

13:55; 12 August 2025 year

According to Svetlana Razvorotneva, Deputy Chairman of the State Duma Committee on Housing Policy, 70% of apartments on the primary housing market in the Russian Federation remain unsold due to declining demand.

Regions where project margins were low had a particularly difficult time. It rarely reached 20%, and only at this level were banks willing to finance projects. Residents of the regions usually bought apartments for their own living using mortgage loans.

The sharp reduction in the number of recipients of preferential mortgages has had a negative impact on regional projects. In addition, the rising cost of construction materials, labor, and other resources is exacerbating the situation, Uvorotneva notes.

In large cities such as Moscow, St. Petersburg and Sochi, where investment demand is high, developers take fewer risks, she added.

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