Yekaterinburg Existing Home Prices Drop 8.8%

1 April 2016 (11:13)

UrBC, Yekaterinburg, April 1, 2016. Prices went down by 1.8% on Yekaterinburg existing home market compared with the start of the year and by 8.8% compared with one year earlier, Ural Real Estate Chamber reports.

As of March 28, 2016, the average asking price of a square meter of housing stood at 69,459 RUR. There are currently slightly over 10,300 apartments and 1,850 rooms in communal apartments for sale in the chamber’s database. It normally tales between four and half and five and a half months to make a sale.

Prices declined most noticeably in the city’s second and third most expensive locations (1.5% to 1.6%, down from 75,180 RUR to 73,978 RUR per m2, and from 65,028 RUR to 64,035 RUR per m2, respectively).

Centrally located apartments only grew 1.3% less expensive, with the average asking price dropping from 97,560 RUR down to 96,314 RUR per m2. Housing prices in the other parts of the city declined by 1.2% on average (from 60,260 RUR to 59,539 RUR per m2 in Yekaterinburg’s fourth priciest district and from 51,734 RUR to 51,099 RUR per m2 in the remotest parts of the city).

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