Yekaterinburg: Outskirts locations grow 1.8% cheaper

10 December 2015 (09:44)

UrBC, Yekaterinburg, December 10, 2015. As of December 7, 2015, the average price of a square meter of an apartment for sale on Yekaterinburg existing homes market came to 71,029 RUR, down 6.8% on a year earlier, Ural Real Estate Chamber reports.

The market supply has remained at its all-time high for four months now: there are currently over 11,500 apartments and over 2,000 rooms in communal apartments for sale at the chamber’s database alone. Because of the low demand, it still takes quite a while – four to five and a half months – to make a sale.

Prices dropped most for apartments in the city’s remotest (and cheapest) districts: the decrease came to 1.8% in the last four weeks, so the average price of a square meter is now 52,002 RUR. In the city’s second cheapest districts, prices dropped by 1.5%, down to 60,669 RUR per m2, while those in the second and third most expensive areas declined by 0.6%, down to 75,618 RUR per m2 and 65,435 RUR, respectively. As for (the most expensive) centrally located apartments, prices actually went up by 0.3%, up to 98,735 RUR per m2.

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