Yekaterinburg: 900 Apartments Drop in Price Weekly
25 November 2016 (13:20)
UrBC, Yekaterinburg, November 25, 2016. Around 900 apartments currently for sale on Yekaterinburg existing homes market drop in price every week, while around a hundred apartments grow more expensive, Ural Real Estate Chamber’s analysts report.
‘Prices kept going down on Yekaterinburg existing homes market since last February. The price decrease was rather gradual and stagnated throughout the summer until the downward trend resumed in the fall. Housing prices went up a little in certain market segments during the month of October, which has to do with the changing market structure rather than the actual increase: firstly, there are always more offers for existing homes in the newly commissioned apartment buildings by the end of the year, secondly, these apartments drive the average asking price up even though sellers are forced to reduce their prices in order to fit the market reality,’ they say.
As of November 21, 2016, the average per-m2 asking price came to 68,245 RUR in Yekaterinburg.
‘Prices kept going down on Yekaterinburg existing homes market since last February. The price decrease was rather gradual and stagnated throughout the summer until the downward trend resumed in the fall. Housing prices went up a little in certain market segments during the month of October, which has to do with the changing market structure rather than the actual increase: firstly, there are always more offers for existing homes in the newly commissioned apartment buildings by the end of the year, secondly, these apartments drive the average asking price up even though sellers are forced to reduce their prices in order to fit the market reality,’ they say.
As of November 21, 2016, the average per-m2 asking price came to 68,245 RUR in Yekaterinburg.
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