Yekaterinburg housing prices drop 6.6%

UrBC, Yekaterinburg, December 3, 2015. Prices went down by 6.6% on Yekaterinburg existing homes market in the eleven months of 2015, Ural Real Estate Chamber reports.

‘The average per-square-meter price gradually declines by about 0.2% a week. As of November 30, 2015, this came to 71,159 RUR,’ the Chamber’s analysts say.

There are currently 11,600 apartments and over 2,000 rooms in communal apartments for sale in Ural Real Estate Chamber’s database. It still takes quite a while (4.5 to 5.5 months or longer) to make a sale.

In terms of location, prices declined least noticeably (-0.4% on the start of the year) in the downtown apartments, where the price of a square meter of an existing home dropped from 99,462 RUR to 99,015 RUR per m2 on average.

The second most expensive locations grew 5.6% cheaper, with the average price dropping from 80,183 RUR down to 75,711 RUR per m2.

The city’s third and fourth most expensive districts grew 6.8% cheaper, with the average price dropping from 70,303 RUR at the beginning of the year down to 65,567 RUR per m2 today and from 65,365 RUR at the beginning of the year down to 60,904 RUR per m2 today, respectively.

Prices in the cheapest and remotest locations went down by 4.9%, from 55,050 RUR per m2 in December 2014 down to 52,344 RUR per m2 at the moment.


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