In Arbat, buyers are not simply choosing a district. They are choosing a specific combination of micro-location, building and apartment.
Arbat is located in Moscow’s Central Administrative District and forms part of the city’s historic core. Its principal advantage is the combination of a genuinely central location with smaller residential streets and lanes.
The defining characteristic of Arbat is the scarcity of land available for new development. The market is shaped primarily by individual buildings rather than large-scale new construction. Buyers therefore need to assess the specific lane, building quality, engineering, privacy, parking, common areas, floor, views, layout and the condition of the apartment itself.
Khlebny, Starokonyushenny, the Afanasyevsky lanes, Filippovsky and neighboring streets are valued for their historic environment, relatively low-rise character and privacy.
Arbat Street combines a historic address and central location with significant pedestrian traffic, tourism and commercial activity.
Novy Arbat offers a larger urban scale, intensive commercial infrastructure and easier car access. It suits buyers who prioritize infrastructure and accessibility over the privacy of a historic lane.
This area is notable for a new generation of boutique residential buildings that are gradually establishing a higher benchmark for quality.
Arbat includes pre-revolutionary apartment buildings, reconstructed historic properties, prestigious Soviet-era residences, modern residential developments and new de luxe boutique projects. The building itself must be assessed rather than its construction date alone.
The district has a very wide price range. Price per square metre is influenced not only by class and age but also by scarcity. A simple district average is therefore particularly uninformative.
As of 17 September 2026.
REPI — the Russian Estate Price Index — provides an indicative measure of public asking prices within a selected basket of high-quality residential properties. It is neither an average of every listing nor a measure of registered transaction prices.
Only completed residential buildings and legally residential apartments are included. Non-residential apartments are excluded. Projects under construction are excluded until officially commissioned. Duplicate listings are removed, while penthouses, exceptionally large terraces, fractional interests and other clear price outliers are treated separately.
An indicative median benchmark is established for each eligible building and the median of these building-level values is then calculated. Every building therefore receives one equal weight.
The current Arbat calculation uses five completed residential buildings: Dom na Khlebnom · Afanasyevsky · Club House on Arbat · Filippovsky · Novy Arbat 27.
Turandot Residences and Artisan are included in the district’s quality TOP selection but do not receive an individual REPI weight because public supply is too limited for a robust building-level benchmark.
This is not a ranking from first to seventh place. The buildings represent different residential scenarios and different parts of Arbat’s premium market.
One of the district’s most private contemporary residential projects, combining scarcity, modern project quality and one of Arbat’s most prestigious micro-locations.
A contemporary boutique residential building in Bolshoy Afanasyevsky Lane, combining a quiet central location with a modern residential environment.
One of the most recognizable de luxe projects directly on Arbat Street. Current public supply is too limited for a full REPI weight.
A completed boutique project on Arbat consisting of two buildings and a private internal courtyard. Limited public supply keeps it outside the current REPI basket.
A premium boutique building in Filippovsky Lane. Apartment size and terraces require particular attention because unusual properties can distort simple price-per-square-metre comparisons.
A relatively small high-quality residential building in Starokonyushenny Lane, valued for its micro-location, privacy and limited supply.
A larger, more urban residential development offering modern scale, infrastructure and the convenience of Novy Arbat.
A boutique residential project in Krestovozdvizhensky Lane. As of 17 September 2026 it remains under construction, with planned commissioning in Q1 2027. It is therefore excluded from the current REPI.
A new boutique residential building on Nikitsky Boulevard. As of the research date it has not yet been officially commissioned and is excluded from REPI.
A boutique new development in Starovagankovsky Lane. Like other projects under construction, it is considered separately from completed residential supply.
Micro-location. A quiet lane and a busy street can offer very different living environments.
Building quality. Entrance areas, engineering systems, security, parking, service and common spaces matter.
Floor and views. Good open views are scarce in the historic centre and can command a premium.
Parking. Convenient private parking can be a major advantage in older stock.
Layout. A well-planned apartment can be more attractive than a larger but less functional property.
Apartment condition. Renovation cost does not necessarily translate into an equivalent resale premium.
Scarcity. In the best boutique buildings, only one apartment may be available — or none at all.
The principal advantages are its central location, historic environment, limited supply of genuinely high-quality buildings and broad range of architectural scenarios.
The principal limitations are uneven housing quality, tourist and commercial activity on some streets, parking constraints, the high cost of making a poor choice and limited supply.
Arbat is particularly relevant for buyers who value the historic centre, walkability, cultural and restaurant infrastructure, prestigious addresses, boutique buildings and rare apartments with individual characteristics.
It may be less suitable for buyers seeking a large private territory, a unified contemporary master plan, spacious landscaped courtyards and the extensive amenities of a major new development.
Arbat’s investment case is primarily based on scarcity. The strongest properties combine a strong micro-location, high-quality building, rational size, good floor, natural light and views, parking and high-quality condition.
Arbat should not be evaluated through a single average price per square metre. The appropriate sequence is: first the micro-location, then the building, then the specific apartment — and only then the price.
REPI of approximately RUB 1.4 million/sq m is a benchmark for the quality segment of the completed residential market, not a price tag for every apartment.
Russian Estate helps clients select apartments in Arbat and other premium districts of Moscow. The process begins with the buyer’s budget, preferred micro-location, building type, size, apartment condition, parking and privacy requirements.
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Arbat REPI as of 17 September 2026 is approximately RUB 1.4 million/sq m for a selected basket of high-quality completed residential properties.
Arbat combines historic buildings, Soviet-era properties, reconstructed residences and modern boutique developments. The specific lane, floor, views, parking and apartment condition also matter.
Dom na Khlebnom, Afanasyevsky, Turandot Residences, Artisan, Filippovsky, Club House on Arbat and Novy Arbat 27.
Russian Estate does not extend a selection to reach a predetermined number.
No. Turandot Residences and Artisan are in the TOP selection but do not receive individual weights because public supply is too limited.
REPI is calculated for legally residential apartments. Mixing different legal formats in one residential index would be misleading.
Yes, provided that the building has been officially commissioned and the units are legally residential apartments.
No. Until official commissioning, their supply is analysed separately.
Price per square metre is useful for initial comparison, but building and apartment quality often matter more than district-wide averages.
Its potential is supported by central location and limited high-quality supply, but performance depends on the specific asset.
This material has been prepared by Russian Estate using publicly available market information, apartment listings, residential building and project characteristics, and Russian Estate’s own methodology.
Research date: 17 September 2026.
This material is provided for informational and analytical purposes only. It does not constitute a public offer, investment recommendation or professional valuation. Asking prices may differ from actual transaction prices. Buyers should independently verify the current characteristics, legal status, documentation and transaction terms of any specific property.
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