Ural Real Estate Chamber: Price of New Homes in Yekaterinburg to Rise 6-8%

3 December 2019 (09:32)

UrBC, Yekaterinburg, December 3, 2019. The prices on Yekaterinburg new home market are expected to rise by 6% to 8% by the end of 2019, President of Ural Real Estate Chamber Ilona Soboleva said at a press conference today.

'The price of an existing home currently comes to RUB 50,600 per m2 on average in Yekaterinburg's remotest locations and to RUB 102,000 per m2 on average for centrally located apartments. Last year, the price of homes in newly commissioned apartment buildings rose by 10%, that of existing homes rose by 5%. This year, the increase will be less pronounced: new and existing homes will grow 6-8% and 1-2% more expensive, respectively,' Soboleva said.

According to Soboleva, the price fluctuations have been most dramatic for the centrally and near-centrally located apartments.

'The number of purchase-and-sale transactions has been going down since the spring. By the end of the year, the figure will drop by 4% to 6% for both new and existing home markets,' Soboleva says.

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