Hedonic price trends for the secondary housing market in Moscow and Moscow oblast

Nikita Fokin
Additional contact information
Nikita Fokin: Gaidar Institute for Economic Policy

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development (In Russian), 2026, issue 14, 6

Abstract: This article presents an assessment of the trends in quality-adjusted (hedonic) prices in the secondary housing market of Moscow and the Moscow oblast from June 2025 to June 2026. Unlike a simple analysis of average or median prices, the hedonic approach allows for an assessment of changes in the value of comparable housing by controlling changes in the supply structure—such as floor area, location, number of stories, condition of the properties, and other characteristics. According to the assessment findings, the nominal hedonic index for the secondary housing market rose from 100.0 in June 2025 to 111.9 in June 2026, corresponding to an annual increase of +11.9%. When compared with consumer price trends in Moscow, the real increase in prices for the secondary housing market is estimated at approximately +7.1%. Thus, during the period under review, qualitatively-comparable housing rose in price noticeably faster than the general level of consumer prices. The resulting trajectory indicates a moderately upward but uneven trend in price dynamics. The most pronounced growth occurred in December 2025–January 2026 and April 2026. Corrective declines were observed in certain months. This pattern is consistent with changes in the macroeconomic environment, including the easing of monetary conditions and the gradual recovery of interest-rate-sensitive demand

Keywords: Russian economy; hedonic price index; real estate market; real estate prices (search for similar items in EconPapers)
JEL-codes: G51 R21 R31 R52 R58 (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.iep.ru/files/RePEc/gai/monreo/monreo-2026-14-1633.pdf Revised Version, 2026 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gai:monreo:monreo-2026-14-1633

Access Statistics for this article

More articles in Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development (In Russian) from Gaidar Institute for Economic Policy Contact information at EDIRC.
Bibliographic data for series maintained by Aleksei Astakhov ().