Increased housing prices in Tomsk in 2025, despite the decline in sales.
In Tomsk, by the end of Q1 2025, the cost per square meter in new constructions soared to an impressive 151,6 thousand rubles; the escalating prices are due to inflation and increasing production costs, despite a drop in sales, as reported by RIA Tomsk, who spoke with Dmitriy Hlopecov, the director of the property valuation bureau "TOKKO."
Back in January 2025, the average price for property on the primary market in Tomsk was 128,44 thousand rubles per square meter, while the secondary market stood at 124,6 thousand rubles per "square." Prices almost converged due to the unavailability of mortgages, not just for secondary but also for new housing.
Tomsk Oblast demonstrated a surplus in supply on the primary property market in March 2025, with 68% of the new housing not being sold.
"The cost for a square meter in the primary market, according to our data, is currently 151,600 rubles, whereas on the secondary market, it's 119,400 rubles per square meter," Hlopecov shared. "The primary market significantly outperforms the secondary market, and this is due to the fact that despite the drop in sales on the primary market, the prices are still on the rise. Inflation is increasing, production costs are soaring, but the apartments simply aren't selling," he stated.
According to his words, as of April 1st, the overall average cost of apartments in Tomsk was 123,380 rubles per one square meter. For comparison, at the end of 2024, it was 120 thousand rubles, and at the end of 2023, it was 111,513 rubles.
Hlopecov added that it remains unclear how the situation in the Tomsk real estate market will evolve in 2025, although current trends are still persisting.
"The market for housing has an oversupply, and the shortage of demand is primarily due to the absence of mortgage programs that the population accepts. Mortgage loans have significantly decreased by around 40-60%, both across Russia as a whole, and in Tomsk," the expert explained. "Of course, people are still taking loans. However, clearly, the loan volume remains almost negligible," he said.
Insights:
In Russia, rental prices tend to be lower outside city centers and in certain regions. Tomsk, serving as a regional educational and scientific center, typically has moderate property demand compared to larger cities. Specific data for Tomsk rental or sales prices are not detailed in the available data.
The Bank of Russia’s data up to April 2025 highlights a deceleration in consumption expansion and price growth, indicating that property price inflation may be slowing down or stabilizing. There's no strong indication of a sharp rise in property prices in the near term, partly due to tightened macroprudential requirements and cooling in unsecured consumer loans, which can impact overall purchasing power in the housing market.
Economic and infrastructural developments like nuclear power expansions may indirectly influence regional economic outlooks, but their effect on Tomsk’s property market by Q2 2025 is likely minimal.
"Investing in Tomsk's property market, particularly on the primary market, has seen an upward trend, with the cost per square meter reaching 151,6 thousand rubles by Q1 2025. This surge in prices is linked to inflation and increasing production costs, despite a drop in sales."
"The rising cost in the housing market, coupled with the scarcity of mortgage programs, suggests a challenge for personal-finance management in Tomsk, as many potential homeowners may struggle with the high real-estate prices."
