Yekaterinburg Existing Home Prices Drop 3.1%

2 September 2016 (13:09)

UrBC, Yekaterinburg, September 2, 2016. Prices went down by 3.1% on Yekaterinburg existing home market in the eight months of 2016, Ural Real Estate Chamber reports.

As of July 29, 2016, prices stood at 68,510 RUR per m2 on average.

Compared with the start of the year, housing prices went down most noticeably in the city’s remotest and least expensive locations; the decrease fluctuates between 4.3% and 4.5%. The average asking price was 51,734 RUR per m2 last December; now the figure is 49,530 RUR per m2 on average.

Housing prices declined from 60,260 RUR per m2 down to 57,545 RUR per m2 in Yekaterinburg’s fourth most expensive districts. Homes near downtown and those in the city’s third priciest locations grew 2.7% to 2.9% cheaper: the asking price dropped from 75,180 RUR per m2 down to 73,118 RUR per m2 and from 65,028 RUR per m2 down to 63,113 RUR per m2, respectively. In the meantime, centrally located apartments have lost almost none of their value since the start of the year and only grew around 0.6% less costly. Their asking price decreased slightly from 97,600 RUR per m2 to 96,939 RUR per m2.

The price of studio apartment dropped by 3.4% compared with January, with average asking price at 73,964 RUR per m2 (compared with 76,572 RUR last December). One-bedroom homes lost 3% of their value and can now be had for 67,280 RUR per m2 (compared with 69,344 RUR last December), and two-bedroom apartments grew 3.2% less expensive, with asking price at 66,792 RUR per m2 (compared with 68,995 RUR). The price of bigger apartments dropped more visibly, by as many as 5.1%. Their asking price stood at 74,368 RUR per m2 on average in December 2015 and now comes to 70,602 RUR per m2.

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