Yekaterinburg: Existing home prices drop 8.9%

18 February 2016 (09:22)

UrBC, Yekaterinburg, February 18, 2016. Housing prices dropped by 8.9% (down to 69,883 RUR per m2) on Yekaterinburg existing home market in the last twelve months, Ural Real Estate Chamber reports.

The current supply (10,300 apartments and 1,800 rooms in communal apartments on offer in the Chamber’s database) is 28% above the figures for one year earlier (8,000 apartments and 1,200 rooms in communal apartments). The number of studio apartments went up by 47%, that of one-bedroom ones by 28%, and that of two-bedroom ones by 22%.

These were the studio apartments that grew cheaper faster than other types of homes last year, with prices dropping by as much as 10.3%, down to 75,665 RUR per m2 on average compared with 84,643 RUR one year earlier. One-bedroom apartments grew 9.4% less expensive, down to 68,802 RUR per m2, while two-bedroom ones grew 8.5% less expensive and can be bought for 68,093 RUR per m2 on average.

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