Yekaterinburg: Existing Home Price Averages RUR 70,184 per M2

8 November 2018 (09:21)

UrBC, Yekaterinburg, November 8, 2018. As of November 5, 2018, the average price of apartments currently on offer on Yekaterinburg existing home market comes to RUR 70,184 per m2, Ural Real Estate Chamber reports.

Analysts explain the last time the price figures exceeded RUR 70,000 per m2 was in February 2016. The average housing price has been rising steadily since last summer. The reasons for this price increase are rooted in the market supply structure: the least expensive homes sell fast as they enjoy the greatest demand, while the most expensive apartments grow even pricier. The average price of an existing home rose by 0.9% in the last four weeks and by 4.3% compared with the beginning of the year.

The market supply dropped down to 7,820 apartments (-0.6% on a month earlier and -14.5% against January 1, 2018, Ural Real Estate Chamber states); 700 apartments in Yekaterinburg’s outskirts and satellites (+5.9% on a month earlier); and slightly over 1,600 rooms in communal apartments (+0.4%). It still takes about 3.5 months to make a sale.

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