Yekaterinburg: 47% of New Housing Is Centrally Located

30 September 2019 (09:16)

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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