Ural Chamber of Real Estate: Supply on Yekaterinburg existing homes market goes up 1% weekly

16 October 2014 (09:17)

October 16, 2014. The number of apartments available for purchase in Yekaterinburg keeps growing. According to the Ural Chamber of Real Estate’s calculations, the supply has been increasing by 1% a week since early April. The overall increase reached 35% (2,600 more apartments) in April-mid-October. At the moment, there are over 10,000 apartments and 1,770 rooms in communal apartments advertised for sale through estate agents. The number of rooms for sale rose by 28% in five and a half months.

Analysts indicate that the existing homes market supply has reached its six-year maximum.

In addition to this, the new homes market supply is on the rise as well: the record-setting 3.3m sq m of new housing are being put up at the moment, 82% of which (2.8m sq m) are in Yekaterinburg, 9% (300,000 sq m) are in the apartment buildings in the suburbia, and 6% (200,000 sq m) pertain to lofts and floor-through apartments.

‘Unlike the supply volume, prices haven’t changed much: housing prices only rose by 4.2% since the beginning of the year, and remained virtually the same over the last two months,’ Ural Chamber of Real Estate’s report states: the median price of a square meter of housing in Yekaterinburg stood at 75,845 RUR as of October 13, 2014.

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