Yekaterinburg housing prices drop 5%

UrBC, Yekaterinburg, October 2, 2015. Yekaterinburg housing prices decreased by 5% in the nine months of this year so far, with prices on the existing homes market dropping by 1% to 2% every week, Ural Real Estate Chamber reports.

As of September 28, 2015, the average asking price came to 72,436 RUR per m2 on the existing homes market. The market demand remains only moderate, even though customers are still very active. As a result, the market supply has gone up by 47.5% since February. There are currently over 11,500 apartments and 1,860 rooms in communal apartments on sale through estate agents. It now takes five to six months, rather than the 3 to 3.5 months needed previously, to make a sale.

Prices have been going down in all market segments: the average asking price for centrally located apartments declined by 0.6%, from 99,462 RUR to 98,884 RUR per m2. As for the city’s second, third, and fourth most expensive districts, prices went down by 4.2% (from 80,183 RUR down to 76,830 RUR per m2), 5.3% (from 70,303 RUR down to 66,601 RUR per m2), and 4.6% (from 65,365 RUR down to 62,388 RUR), respectively.

Price fluctuations were least noticeable in the least expensive parts of the city, where the average asking price declined by 1.8%, from 55,050 RUR per m2 last December down to 54,081 RUR per m2 in September 2015.


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