Yekaterinburg housing market has fewer economy class homes

UrBC, Yekaterinburg, December 10, 2015. New homes currently under construction in Yekaterinburg amount to 2.496m m2 altogether, which is 12.6% less than in the last quarter of 2014, Ural Real Estate Chamber reports.

Economy class homes amount to 1.368m m2 all in all (down 26% on a year earlier), comfort plus homes amount to 1.063m m2 (+15%), business class homes amount to 21,000 m2 (+126%), and elite homes amount to 15,000 m2 (the same as last year).

The chamber’s analysts feel the decrease in the overall amount of new housing has to do with the customers’ deteriorating paying capacity and over-supply on the new homes market.


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