Yekaterinburg: 47% of New Housing Is Centrally Located

UrBC, Yekaterinburg, September 30, 2019. Head of Analytical Department at Ural Real Estate Chamber Mikhail Khorkov says increasingly more new housing gets put up in Yekaterinburg’s central and nearly-central locations. The announcement was made during Ural Real Estate Forum this week.

According to Khorkov, the share of centrally located new homes reached 33% of all newly commissioned housing in Yekaterinburg as recently as 2015. By 2018, the percentage rose to 41%, and by the third quarter of 2019, the figure was 47%.

‘This is a very significant structural change. Prior to 2015, the estate market used to expand through remote parts of the town and outskirts of the city. Now we have a lot of projects going on in the central parts of Yekaterinburg. This is something we haven’t seen in a while. There are also quite a few projects in the city’s second priciest areas near the centrally located ones. I believe the dropping share of new homes on the outskirts of Yekaterinburg is a sign that the market is evolving in certain ways and adjusting to the customer’s needs,’ Khorkov said.

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