New homes market prices go up 6.5% in Yekaterinburg in three months

30 July 2013 (09:13)

July 30, 2013. The prices on the new homes market in Yekaterinburg rose by 6.5% over the last three months.

According to the spokesperson for Ural Chamber of Real Estate, this price increase has to do with the fact that the number of finished or nearly finished buildings rose over the given period; besides, certain apartment buildings sold particularly well.

‘As a result, the new homes market split into two groups different in terms of quality. The first group comprises ‘weak’ projects where the pricing policy does not change for four to six months and more regardless of the stage the construction process is at. What is more, the developers that work on such projects are trying to attract customers through discounts, installment plans, and other hidden discount offers. The second group comprises ‘strong’ projects where sales are going very well, so the companies that are busy working on such projects can afford gradually to increase prices. This typically happens as the construction stages progress. As a result, the average price on the new homes market is now at its record high – 60,800 RUR per sq m,’ the press service says.

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