Ural Real Estate Chamber: Existing Home Market Down 3%

1 July 2016 (10:44)

UrBC, Yekaterinburg, July 1, 2016. Prices went down by 3% on Yekaterinburg existing home market in the first half of 2016 compared with December 2015, Ural Real Estate Chamber reports.

Compared with one year earlier and with the peak prices of mid-February 2015, prices declined by as much as 7.4% and 10.5%, respectively. The average per-square-meter price is reported to come to 68,600 RUR on average at the moment.

Prices dropped most noticeably for the centrally located homes, from 97,600 RUR per m2 on average in late 2015 down to 93,900 RUR (-3.8%). In terms of size rather than location, the price decrease was most felt in the larger apartments sector: homes with three or more bedrooms grew 4.9% less expensive, from 74,400 RUR per m2 in December 2015 down to 70,700 RUR per m2. Studio apartments grew 3.5% cheaper (from 76,600 RUR per m2 down to 73,900 RUR), one-bedroom ones 2.2% cheaper (from 69,300 RUR down to 67,800 RUR), and two-bedroom ones 3.4% cheaper (from 69,000 RUR down to 66,700 RUR).

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