Yekaterinburg: Existing Home Prices Drop 9.2%

UrBC, Yekaterinburg, March 23, 2016. Prices dropped by 9.2% on Yekaterinburg existing home market compared with February 2015, Ural Real Estate Chamber reports.

As of March 21, 2106, the average price of a square meter came to 69,633 RUR, and the customers currently have plenty of options to choose from. Even though the market supply declined somewhat in January and February, it is still 28.6% larger than one year earlier: there are 10,360 apartments and 1,850 rooms in communal apartments for sale in the Chamber’s database (compared with 8,000 apartments and 1,200 rooms in February 2015). The supply of studio apartments rose by 50%, that of one-bedroom ones by 27%, and that of two-bedroom ones by 20%.

Given the circumstances, prices of studio apartments decreased the fastest and dropped by 10.8% in the last thirteen months, down to 75,496 RUR per m2. The average price of one-bedroom homes declined by10.1%, down t o 68,384 RUR per m2, and that of two-bedroom ones decreased by 8.6%, down to 67,974 RUR per m2.


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