The heat has passed: Sochi saw a drop in the volume of resort real estate supply for the first time
August brought a decline in activity in the Sochi real estate market
The Sochi resort real estate market, which has long been among the leaders in terms of price growth rates, appears to be starting to “cool down”: according to the results of August 2025, for the first time in a long time, the volume of supply on this local real estate market has significantly decreased.
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As Ekaterina Lomteva, Director and Head of Residential Real Estate at CORE.XP, told MK, 4,556 apartments and flats were on offer on the primary real estate market in Sochi last August. This is more than two times less than in August 2024 (10,279 lots). At the same time, the flats segment showed active growth. According to the results of August 2025, their number amounted to 1.7 thousand lots, which is 69% more than a year earlier.
The expert also noted a decrease in demand for Sochi resort real estate: 830 DDUs were concluded on the primary market in the first 8 months of 2025, which is almost 3 times less than in the same period last year. "The decrease in demand is due to the fact that the market has switched to a waiting mode: after the Central Bank of the Russian Federation lowered the key rate to 18% and forecasts for its further fall to 16%, buyers have formed significant deferred demand," Lomteva noted.
Over the first 8 months of 2025, the share of mortgages in the overall structure of transactions decreased by 39% year-on-year. This indicates that, despite the decrease in mortgage rates, potential buyers this year have begun to encounter more frequent refusals from banks to issue mortgage loans.
Despite the general decline in demand in the resort real estate market, it remains stable. Apartments were the most popular among buyers in 2025. Their share in the total volume of transactions was 52%, which is 9% higher than the 2025 figure. Apartments accounted for the remaining 48%. However, it should be noted that in the future, the share of apartments will increase due to the supply of hotel apartments managed by hotel operators.
The most popular real estate format among buyers by room type, according to the expert, were 1-room lots (39%) and studios (32%). 2-room lots accounted for 19% of transactions. The least interest was shown in 3-room and 4-room lots - 8% and 1%, respectively.
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