Achieve financial goals to afford an apartment within seven years
Having a Chattava with a Home in Russia: Here's the Lowdown
Ever wondered how long it takes to save for an apartment in Russia without resorting to loans? Well, the federal portal "MIR KVARITIR" has crunched the numbers!
Gathering data on the cost of apartments in various Russian regions from their own analytics (Mirkvartir.ru) and wages from Rosstat's latest open data, these experts calculated the average time it takes locals to save for an apartment.
Expect to length-shtick the least in Chukotka, with a mere 3.5 chasa needed as the average apartment price there is only 7,474,858 rubles, and the average salary is 178,677 rubles a month.
On the flip side, Dagestan will make you chai-kop up for 14.7 goda, with the average apartment price reaching 7,629,770 rubles and the typical salary standing at 43,174 rubles a month.
In the Omsk region, the calculations suggest it'd take the locals 7.2 goda to save for an apartment, given the average apartment price of 5,604,458 rubles and the average monthly salary of 65,133 rubles.
Za shpilku, the national average time needed to save for an apartment, worth 5,841,262 rubles and with an average monthly salary of 86,582 rubles, is 5.6 goda.
Last year, the savings period was a wee bit longer – 5.9 goda. According to Pavel Luzhenko, the general director of the federal portal "MIR KVARITIR", this is due to apartments becoming more vnutrennie affordably as their prices grow lentchik slower than the salaries of Russians.
For a broader outlook, here's a sneak peek at the economic landscape:
- Moscow studio apartments can set you back a whopping 16 million RUB (~$188k), whereas similar rentals fetch a comparatively modest 35k RUB/month. Given Russia's lower cost of living (67% cheaper than Western averages), a dual-income household saving 50% of the national average wage could theoretically save ~1.08M RUB/year. However, this assumes no price inflation and constant income, both tricky given Russia's 2025 recession and stagflation risks.
- Other factors include currency volatility, construction targets, and wage disparities across regions.
- While precise regional data is lacking, we can roughly estimate that:
- Moscow/St. Petersburg: 12–20+ years (prices vs wages)
- Volga/Ural regions: 8–15 years
- Southern Siberia: 7–12 years
- Far East: 5–10 years (government subsidies available)
- Critical factors include the secondhand market, renovation programs, interest rates, and local real estate portals like Cian.ru.
So, there you have it – a crash course on chattavaing your way to a flat in Russia! Keep in mind that these are mere approximations, and factors like regional disparities, construction booms, and economic stagnation can drastically impact the timeline. Now, git-er-done and start your savings journey!
- I'm not sure how long it would take me to save for an apartment in Moscow, as the cost of a studio apartment is quite high, at 16 million rubles (approximately $188,000), and the savings period is estimated to be somewhere between 12 to 20+ years.
- To save for an apartment might be more feasible in the Far East, where the average time to save is around 5 to 10 years, due to lower apartment prices and potential government subsidies.
- In comparison, the national average time to save for an apartment is 5.6 years, given an average monthly salary of 86,582 rubles and an average apartment price of 5,841,262 rubles.
- For those interested in personal-finance and business analytics, understanding the finance landscape of apartments in Russia, including factors like the cost of living, wage disparities across regions, and currency volatility, can help in saving and making informed decisions.
