Voronezh New-Build Apartments Keep Rising in Price
The median price of new-build apartments in Voronezh rose by 2.2% in January compared to December, according to an analysis of Yandex property search data by the Alice AI neural network.
The median price is the average price in the sample, dividing it in half: half the prices are below the median and half are above.
The national average price per square meter in new buildings in January was 178,000 rubles (approximately $2,000 at current exchange rates), while in Voronezh it was 144,000 rubles ($1,600). The median full price of a 45.5 sq. m apartment in new buildings in Voronezh is currently 6.6 million rubles ($73,300). In terms of total apartment price, Voronezh ranked as the second most affordable million-plus city after Volgograd.
The neural network analysis data generally matches information from apartment sales websites. The cost per square meter in Voronezh new buildings depends on the location, scale, and class of the residential complex. For example, in the Yablonevye Sady (Apple Orchards) residential complex, located in one of the most densely populated districts of Voronezh, there are apartments where one square meter costs «only» 105,000 rubles ($1,200). But in the center, for instance, in the premium residential complex Atlant on Sredne-Moskovskaya Street, one square meter already costs 211,000 rubles ($2,300).
The rise in real estate prices is a sad trend of recent years. According to the financial development institution in the housing sector DOM.RF, over the past five years, one square meter of housing in the Voronezh region has become almost 55% more expensive.
