Yekaterinburg: Existing Home Prices Up 2%

UrBC, Yekaterinburg, June 7, 2018. The average asking price of an existing home went up by 2% (from RUR 71,400 to RUR 72,900 per m2) on Yekaterinburg market between the beginning of the year and this month, the press service of the online estate service N1.RU reports.

According to N1.RU’s analysts, the average asking price rose mainly due to larger apartments growing more expensive: the price of two- and multiple-bedroom homes started gradually rising as early as last year. Centrally located apartments and those in District Parkovy are getting pricier the fastest.

‘Luxury apartments enter the market and get features on N1.RU’s website every month. It takes much longer to sell a home like this than it does to sell an economy class or a middle-class dwelling, so the plentiful supply of larger, pricier apartments has an impact on the market’s average asking price. The increase in the supply is mostly seasonal in nature: January is normally a very quiet month on this market, but both sellers and buyers grow more proactive in the spring,’ says Head of N1.RU Oksana Sidletskaya.

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