Yekaterinburg: Price of stand-alone garages goes up 7%
24 November 2015 (09:31)
UrBC, Yekaterinburg, November 24, 2015. The price of stand-alone garages went up by 7%, up to 541,000 RUR, in Yekaterinburg this year, N1.RU and E1.Nedvizhimost report.
The average amount of rent, however, went down by 14% and currently comes to 4,600 RUR a month. This means that as an investment, a garage will pay off within a decade, at the rate of 10% a year.
The most expensive stand-alone garages can be found at VIZ (the average price is 799,000 RUR) and in downtown Yekaterinburg (745,000 RUR); the most affordable garages are located in Siberian and Ptizefabrika (under 300,000 RUR) and Nizhneisetskiy (under 200,000 RUR).
According to analysts’ calculations, the payoff rate has gone down by 2% this year, while that of a parking slot actually increased by 1%, given the annual cost of rent.
‘The price of stand-alone garages is at its peak at the moment, while rental rates have been going down; this means renting a garage rather than buying it makes more economic sense,’ says E1.Nedvizhimost’s Marina Grinemar.
‘As for parking slots, these are getting less costly, so now is the best time for those who would like to buy one. According to our research findings, the demand for both garages and parking slots has been stable, so even if you don’t use a parking slot yourself, you will always be able to rent it out, especially in winter.’
The average amount of rent, however, went down by 14% and currently comes to 4,600 RUR a month. This means that as an investment, a garage will pay off within a decade, at the rate of 10% a year.
The most expensive stand-alone garages can be found at VIZ (the average price is 799,000 RUR) and in downtown Yekaterinburg (745,000 RUR); the most affordable garages are located in Siberian and Ptizefabrika (under 300,000 RUR) and Nizhneisetskiy (under 200,000 RUR).
According to analysts’ calculations, the payoff rate has gone down by 2% this year, while that of a parking slot actually increased by 1%, given the annual cost of rent.
‘The price of stand-alone garages is at its peak at the moment, while rental rates have been going down; this means renting a garage rather than buying it makes more economic sense,’ says E1.Nedvizhimost’s Marina Grinemar.
‘As for parking slots, these are getting less costly, so now is the best time for those who would like to buy one. According to our research findings, the demand for both garages and parking slots has been stable, so even if you don’t use a parking slot yourself, you will always be able to rent it out, especially in winter.’
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