Sverdlovsk Region: Demand for new land allotments down 40%

UrBC, Yekaterinburg, October 19, 2015. The local developers’ demand for new land allotment is down by 40%, Sverdlovsk Region Public Property Management Minister Alexei Piankov said at Ural Estate Forum.

‘What we need under current circumstances is a thoughtful approach to what lots are offered at land auctions. Firstly, the land allotments need some sort of infrastructure around. Secondly, we cannot afford to sell everything for a song in order to sell as much as possible. Allotments for private houses are in good demand now, sometimes a decare-big lot with an opening bid of 500,000 RUR went for 2m RUR in the end,’ Piankov said.

According to the minister, there are sometimes up to eight or ten bidders in an auction, not only businesspeople but private customers as well.


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