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Ural Estate Chamber: Yekaterinburg housing prices drop 3.7%

UrBC, Yekaterinburg, August 10, 2015. The average price of a square meter of housing on Yekaterinburg existing homes market has gone down by 3.7%, down to 73.424 RUR, since the beginning of the year, Ural Chamber of Real Estate's analysts report.

The market supply is still at its all-time high: there are currently over 11,400 apartments and 1,800 rooms in communal apartments for sale in the Chamber's database. This is, respectively, 46% and 52% more than six months ago. The number of studio apartments on offer is up by 76%, that of one-bedroom apartments is up by 50%, that of two-bedroom ones is up by 29%, and that of more spacious homes is up by 10%.

Downtown Yekaterinburg is the only part of the city where housing prices keep rising. The average price increased by 1.2% in the last four weeks and came to 101,332 RUR per m2, whereas in the second and third most expensive areas of Yekaterinburg, prices dropped by 1% to 1.1% (77,702 RUR per m2 and 67,544 RUR per m2). Prices declined by 0.6% to 0.7% in the fourth and fifth most expensive areas (63.415 RUR per m2 and 54,221 RUR per m2).
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