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Ural Real Estate Chamber: Housing Market Supply Grows 32%

April 25, 2013. According to Ural Chamber of Real Estate’s Analytical Department, the average price of one square meter of housing on Yekaterinburg’s existing homes market amounted to 70,872 RUR on April 22, 2013. This figure has remained more or less the same since February; for three months, the average figure has stayed at the level of 70,800 RUR, with only slight variations by 0.1% to 0.2% up or down. One could say the housing prices have finally settled and are not expected to grow any time soon.

The trend for the increase in the housing supply that became noticeable at the beginning of the year has continued so far. According to the Ural Chamber of Real Estate’s data alone, the number of apartments and houses put up to sale rises by 1.5% to 2% every week and has grown by 32%, or 2,150 items, since the beginning of the year. In January, local real estate agents traded 6,800 apartments and now they are handling over 9,000 flats. At the same time, the Chamber’s database gets updated every week, with 700 to 750 apartments added to it every time. Also, the period for which an apartment is usually offered for sale has extended from 3.5 months to 4 months.
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