‘After the housing prices soared last year, a lot of apartments (like those located in low quality 40- to 60-year-old buildings) became unfairly overpriced, which is why certain leveling off that is going on at the moment is quite justified,’ Guran Tukhashvili of Ural Chamber of Real Estate said to UrBC.

‘According to our estimates, prices are not likely to go up much in terms of either existing homes or those under construction until this fall; some growth is possible in the fall and winter. I don’t think any drastic price changes are to be expected, though,’ Mr. Tukhashvili said.