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Ural Chamber of Real Estate: Supply on Yekaterinburg existing homes market goes up 1% weekly


16.10.2014
October 16, 2014. The number of apartments available for purchase in Yekaterinburg keeps growing. According to the Ural Chamber of Real Estate’s calculations, the supply has been increasing by 1% a week since early April. The overall increase reached 35% (2,600 more apartments) in April-mid-October. At the moment, there are over 10,000 apartments and 1,770 rooms in communal apartments advertised for sale through estate agents. The number of rooms for sale rose by 28% in five and a half months.

Analysts indicate that the existing homes market supply has reached its six-year maximum.

In addition to this, the new homes market supply is on the rise as well: the record-setting 3.3m sq m of new housing are being put up at the moment, 82% of which (2.8m sq m) are in Yekaterinburg, 9% (300,000 sq m) are in the apartment buildings in the suburbia, and 6% (200,000 sq m) pertain to lofts and floor-through apartments.

‘Unlike the supply volume, prices haven’t changed much: housing prices only rose by 4.2% since the beginning of the year, and remained virtually the same over the last two months,’ Ural Chamber of Real Estate’s report states: the median price of a square meter of housing in Yekaterinburg stood at 75,845 RUR as of October 13, 2014.
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