Demand for luxury real estate in Sochi continues to gain momentum, contributing to the rise in residential property prices. According to the results of 2024, the cost of housing in this resort city exceeded the indicators of Moscow and St. Petersburg, and for a million dollars you can buy an apartment of about 50 square meters. This was reported by Milena Kokorina, head of the Sochi representative office of the National Union of Investors of Russia, in an interview with the RBC TV agency.
According to her, at the moment the city is seeing a trend towards the construction of low-rise private houses, and there is reason to believe that this trend will continue for at least the next two to three decades. At the same time, Kokorina noted that the pace of construction may slow down, but the quality of housing will probably improve.
In addition, unique real estate objects, the so-called luxury real estate, which is a rare commodity for very wealthy clients, are of particular interest in Sochi. At the moment, there are quite a few such places in the city, but there are good prospects for their construction in the future. The Khustinsky and Lazerevsky districts of Sochi have the greatest potential for further development, as this is where there is the greatest scope for new construction.
It should be noted that prices are very high when it comes to luxury real estate, but in other places in Sochi you can find real estate at reasonable prices. According to our check on the website "Cian", which is considered one of the leading real estate sites in Russia, over 4 thousand apartments and houses were offered for sale. The average price of one square meter of an apartment-house in Sochi is 141 thousand rubles ($ 1744). The average price of a apartment-house is 38 million rubles ($ 470,000). The lowest price of a house offered for sale in Sochi is 7 million rubles ($ 86,570). The highest price of a house offered for sale is 412 million rubles ($ 5,095,000).
These prices were updated on May 9, 2025, the price of one dollar on that date was: 80.86 rubles.
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