Yekaterinburg existing homes market supply plummets 34%

12 August 2015 (09:06)

UrBC, Yekaterinburg, August 12, 2015.Yekaterinburg existing homes market supply dropped by 34% in the second quarter of the year compared with a year earlier, Ural Real Estate Chamber refers to Rosreyestr as stating.

Prices, however, have been only slightly going down; in fact, asking prices did not fluctuate by more than 0.2% within a week over the last two months. The overall decrease reached 3.7% compared with the start of the year, so, as of August 10, 2015, the average asking price came to 73,411 RUR per m2.

The market supply kept surging dramatically between February and June yet slowed down a bit in the summer months. There are currently 11,450 apartments on offer in Yekaterinburg, up 46% on half a year earlier. The number of rooms in communal apartments put up to sale is up by 51% and now comes to 1,800.

Downtown Yekaterinburg is the only part of the city where housing prices keep going up: the increase came to 1.4% over the last four weeks and came to 102,289 RUR per m2 on average.

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