UrBC, Yekaterinburg, October 16, 2015. The average price of a square meter of housing on Yekaterinburg existing home market currently comes to 72,161 RUR, down 5.3% on the start of the year, President of Ural Chamber of Real Estate Eduard Bogdanov reports.

‘We can see prices growing down gradually in all the market segments. At the same time, the market supply is still at its record high. There are currently nearly 11,500 apartments offered for sale in our database, as well as 1,800 rooms in communal apartments. This is not a very good picture to look at. On the other hand , people’s incomes are going down. On the other hand, the market competition is going up,’ Bogdanov said.

Bogdanov does think any market improvements very likely just yet.