Ural Real Estate Chamber: Communal Apartments 24% Cheaper

7 August 2017 (14:52)

UrBC, Yekaterinburg, August 7, 2017. The average asking price comes to 66,300 RUR per m2 on Yekaterinburg existing home market at the moment, which is 0.2% less than one month earlier and 13.6% less than in February 2016, Ural Real Estate Chamber’s report states.

Centrally located apartments grew 1.7% less expensive in the last four weeks and can now be had for 94,983 RUR per m2. Those in the city’s remotest districts grew 1.8% less expensive, with the asking price at 47,612 RUR per m2 on average. Homes in the city’s fourth most expensive locations grew 0.4% cheaper, with the asking price at 55,455 RUR per m2. Homes in the city’s second and third costliest locations (near downtown) still cost the same.

Prices fell most noticeably in the communal apartment segment. The decline stood at 0.9% in the last four weeks, with the average asking price at 61,490 RUR per m2. Rooms in communal apartments still have to reach the price level that will prove competitive to buyers with a limited budget. All in all, prices in this market segment decreased by 24% against last February.

It takes 133 days on average to make a sale; still, sellers who are willing to accept the market reality can easily sell their property within two or three months.

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