Demand for new housing in Nizhny Novgorod strengthened amid falling interest rates.

      August 18, 2025, 18:00 [160]

      Economy

      In July 2025, interest in primary housing grew in Nizhny Novgorod. According to the services "Yandex Real Estate" and "Pulse of New Building Sales," more than 520 transactions for the purchase of apartments in new developments were concluded in the city. This is 8% more than in June.

      The total area of sold properties amounted to over 25,900 square meters — an increase of 6% compared with the previous month. At the same time, the volume of unsold apartments in new developments fell by 3%.

      The rise in the number of transactions in July was observed in 14 of Russia's 16 million-plus cities. Leaders were Samara (+70%), Volgograd (+35%), Krasnodar and Novosibirsk (each +32%), and Perm (+29%). On average across the largest cities, the increase was 17.8%, and the total number of apartments sold exceeded 19,000.

      As Evgeny Belokurov, commercial director of the "Yandex Real Estate" service, explained, the positive dynamics are connected both with developers' active marketing policies and with the beginning of a reduction in the key rate. He noted that buyers have started to respond more often to discounts and special offers, but the main factor remains cheaper loans.

      According to Artyom Sovetnikov, head of the "Pulse of New Building Sales" service, the market is influenced by several factors at once: seasonal revival, an increase in the share of mortgage transactions, and a drop in deposit rates. He emphasized that current activity is largely due to the effect of pent-up demand, and expectations of further rate cuts are prompting buyers to make decisions now.

      Recall that on July 25 the Bank of Russia cut the key rate from 20% to 18% per annum. Earlier, Marina Malkina, a professor in the Department of Economic Theory and Methodology at INEK NNSU, spoke about what awaits the Nizhny Novgorod mortgage lending market after the Central Bank's rate cut.

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