Yekaterinburg existing home prices drop to 2012 levels

15 February 2016 (09:23)

UrBC, Yekaterinburg, February 15, 2016. The average price of a square meter of housing on Yekaterinburg existing home market has dropped below 70,000 RUR for the first time in the last three years and came to 69,975 RUR on February 8, 2016, Ural Real Estate Chamber reports.

‘This was last seen in December 2012; still, housing prices have been declining slowly enough, by around 0.2% a week and 0.9% a month,’ the Chamber’s analysts say.

The market supply still exceeds the current demand. Even though the number of apartments on offer has shrunk by 10% in the last three and a half months, the overall supply remains one of the largest and highest in the market’s history. There are currently 10,400 apartments and 1,800 rooms in communal apartments in the chamber’s ‘For Sale’ database.

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