Housing prices in Kirov have fallen: the city entered the top 10 for declines on the secondary market.

      Housing prices fell in August in 20 of Russia’s 50 largest cities. According to consulting firm SRG, as published by RBC Real Estate, the average price per square meter in Kirov fell by 0.22% — to 105.2 thousand rubles.

      The biggest decline was in Khabarovsk, where the price per square meter on the secondary market fell by 1.43% — to 132.5 thousand rubles. In second place were Sochi and Tyumen (both down 1.24%), followed by Krasnodar (-1.12%), Novokuznetsk (-0.67%) and Tula (-0.38%). The top ten also included Penza, Makhachkala, Kirov and Cheboksary.

      SRG experts note that in July the number of cities with negative price dynamics was a five‑year record — 28 out of 50. However, the trend changed in August: declines were recorded in only 20 cities. This may indicate a gradual market stabilization after the summer drop in demand.

      At the same time, prices continued to rise in most major cities. Kursk was the leader in housing price increases for the eighth month in a row (+2.68%), followed by Chelyabinsk (+1.97%) and Tver (+1.38%). Saint Petersburg and Izhevsk also made the top five gainers.

      SRG specialists forecast that if the Central Bank’s key rate is cut, a new phase of price growth may begin on the secondary market, since buying housing there may become more advantageous for many than buying on the primary market.