Yekaterinburg housing prices go down, Ural Chamber of Real Estate says

23 October 2014 (09:09)

October 23, 2014. Prices on Yekaterinburg existing homes market declined by 0.2% in the last two months, while real estate prices actually rose by 4.1% against the beginning of the year, Ural Chamber of Real Estate’s Analytical Center reports.

As of October 20, the median price of a square meter of a home available for purchase in Yekaterinburg reached 75,740 RUR.

The number of apartments in the Chamber’s database has gone up by 36% since early April: this comes to over 2,600 extra apartments.

As a result, the existing homes market supply reached its six-year high: there are currently 10,000 apartments and 1,770 rooms in communal apartments (up 28% over the last five and a half months) for sale in Yekaterinburg.

What is more, the new homes market is growing as well: the record-setting 3.3m sq m worth of new apartments are put up every year, including 2.8m sq m (85% of all new housing) in Yekaterinburg, 300,000 sq m (9%) in apartment buildings in the suburbia, and 200,000 sq m (6%) in apartment hotels and lofts. 25,000 new apartments within the city limits are offered by developers at the moment.

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