UrBC, Yekaterinburg, October 10, 2017. Yekaterinburg studio apartments now cost 4.5% less than at the start of the year, dropping in price from RUR 2.67m to RUR 2.55m on average, N1.RU’s report indicates.

‘In some parts of the city, the price decrease was as much as 10%. These locations are Botanika, ZhBI, and Parkovy. Zavokzalny was the only district where prices actually went up by as much as 12.4%, and the price of other apartment types has remained more or less the same since the start of the year, small fluctuations in certain locations notwithstanding,’ the report states.

On the yearly scale, however, larger homes now come at a higher price. Two-bedroom apartments are now 3.5% more expensive on average than one year earlier, since the costlier options in Vtuzgorodok are now on offer; three-bedroom apartments now cost 4% on average, also because of the extra market supply in VIZ and Vtuzgorodok.

‘The dropping demand has affected studio apartments the most, as customers are now generally looking for a home to live in, not to invest in. Investors barely buy anything these days,’ says head of N1.RU Yekaterinburg Oksana Sidletskaya.