UrBC, Yekaterinburg, December 14, 2015. The average rent amount on Yekaterinburg housing market dropped by 11% (down to 18,600 RUR a month) in the course of one year, N1.RU and E1.Nedvizhimost’s research findings indicate.

One could find a place for 21,000 RUR on average a year ago, but now one-bedroom apartments are 12% cheaper, studio apartments are 11% cheaper, and two-bedroom apartments are 7% cheaper than before.

Rents were at their lowest in May and June, but went up a little with the start of the school and academic year. The downward trend was typical of all parts of the city, with centrally located apartments and those located in Akademichesky District proving the most profitable: rental rates only decreased by as little as 7% and 5% there, respectively.

‘Given the customers’ deteriorating paying capacity, the demand for rented space went down, whereas the supply is still high. Over 50% of the market supply are studio apartments, and around 38% are one-bedroom ones. Their landlords find themselves having to reduce their price as much as possible,’ says Marina Grinemayer of E1.Nedvizhimost.