Moscow Region Homebuilders' Revenue Rises 30% Even as Moscow City Sales Fall

Residential developers operating in the Moscow region increased their revenue by roughly 30% in the third quarter of 2026, even as revenue from property sales within Moscow's older city boundaries and in the New Moscow administrative area declined, according to analysis cited by Kommersant.

Within Moscow's established borders, total developer revenue from residential property sales fell 16.2% year on year in the July-to-September period, to approximately 357.9 billion rubles, the newspaper reported, citing calculations based on data from the analytics service Dataflat.ru. In New Moscow, revenue fell further, declining 21.6% year on year to about 60.77 billion rubles.

Taken together, developers across the full administrative boundary of Moscow earned about 17% less in the third quarter than a year earlier, with total revenue of roughly 418.6 billion rubles, the analysis found.

The divergence between the capital's core markets and the surrounding Moscow region points to shifting buyer demand, with the region apparently capturing a growing share of residential purchasing activity even as sales volumes and prices within the city itself come under pressure. The figures reflect broader strains on Russia's residential construction sector, which has faced tighter mortgage conditions and softening demand in several major markets over the past year.

Kommersant did not report comparable regional revenue figures for the full prior-year quarter beyond the percentage changes cited.