Land plots (Russian market)

Real estate (Russian market)

Main article: Real estate (Russian market)

2023: Increase in the number of land purchase and sale transactions in Russia by 18% to 4.6 million

In 2023, 4.5 million land purchase and sale transactions were carried out in Russia, which is 18% more than in the previous year. This is evidenced by the data of the analytical agency BusinesStat, released in May 2024.

According to experts, the growth of the market is associated with an increase in transactions with plots for individual housing construction (IZHS). Large companies entered the IZHS market and were looking for suitable territories for the withdrawal of low-rise projects.

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BusinesStat

The study notes that the most popular in 2023 were inexpensive land plots without a contract, when the buyer can independently choose the project and contractor. Land purchases are often for investment purposes, with the house being built over several seasons. Prices for building materials have stabilized, so the total cost of individual construction has become more predictable, experts add.

Lands in Russia for their intended purpose are divided into the following categories:

• agricultural land;
• lands of settlements;
• lands of industry, power, transport, communications, broadcasting, television, computer science, land to support space activities, land of defense, security and land of other special purpose;
• lands of specially protected areas and facilities;
• forest land;
• land of the water fund;
• of reserve land.

According to BusinesStat, in 2023, relative to 2019, the number of land purchase and sale transactions more than doubled. Factors such as the self-isolation regime during the COVID-19 coronavirus pandemic, the desire to save savings due to fluctuations in exchange rates and invest them in real estate, as well as preferential mortgage programs affected here.^[1]

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