Yekaterinburg: Over 50% expect housing prices to drop

5 February 2016 (11:01)

UrBC, Yekaterinburg, February 5, 2016. 52% of Yekaterinburg residents who took part in a recent survey are confident that housing prices will keep going down for the time being, the online portal N1 reports.

Only 13% of respondents believe prices will go up; 70% of people in this group say this should happen because of the devaluation of the ruble and the growing building materials prices. At the same time, 65% of people in the 52% group who insist prices will keep declining think the national currency’s exchange rate will actually cause the price decrease.

53% of respondents said they were sure the year 2016 was a good one to invest in property, 31% are planning on buying an apartment and 30% are planning on selling. Another 20% are hoping to find good tenants they could rent their places to, and only 5% are planning on renting.

It is reported that 62% of those surveyed admit their financial situation deteriorated greatly last year. 32% feel things will go from bad to worse this year. 22% of respondents expect their income to rise, and over a half of people in this group expect the extra income to come from selling their apartments.

‘According to the survey results, 40% of those surveyed either sold or bought an apartment last year, and as many as 61% are planning to do so this year,’ says head of E1. Nedvizhimost Marina Grinemayer.

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