Sales on Sverdlovsk Region new homes market drop by a third

19 October 2015 (09:27)

UrBC, Yekaterinburg, October 19, 2015. Sales went down by 30% to 35% on Yekaterinburg new homes market, the constituency’s Construction & Infrastructure Development Minister Sergei Bidonko said at Ural Estate Forum.

‘The market’s current supply is made up of buildings commissioned in the pre-recession years 2012-2014. This reserve is gradually wearing thin, and there are considerably fewer new development projects here. This has to do with a 30% to 35% decline in new homes sales,’ Bidonko said.

According to the minister, the market supply is expected to shrink in the nearest future.

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