Real Estate in Yekaterinburg expensive record pace

Posted on Mar 24, 2012

The rapid rise in real estate has become a common feature of all large cities in Russia. In Yekaterinburg, home prices rose until recently relatively low rate, but in 2006, the local realtors recorded the highest growth rate for the city prices.

According to estimates of the Ural Chamber of Real Estate, only for residential properties in July rose by an average of more than 9%. Average bid price of 1 square meter of the total area of apartments reached by 25 July level in 41 938 rubles (more than 1.5 thousand dollars), the “New the region. ”

As the press service of the House, the price change over the seven months of the year the city average was 37%. And in 2005, the growth of the cost per square meter for the same period amounted to just over 13.5%, and about 24% for the full year. Fastest in July more expensive apartments in five-storey building, as well as objects that are in the suburbs of Yekaterinburg.

For comparison, in 2005, housing in Moscow has risen in price by an average of 30% in the first seven months of 2006, the price of apartments in Moscow increased by more than 50%. The average price per square meter of apartments in Moscow at the end of July was more than $ 3,700.

The effect on the sharp rise in Ekaterinburg had a lot of factors, but the primary was a significant drop in supply in the secondary market, which occurred in mid-2005. Until March 2006 the change of this index was smooth, but from March to June, the value decreased by 26% and by the end of July reached a record low for the last five years to the mark.

However, in early August, there was a slight decrease in the rate of decline in supply. According to the forecast of analysts of the Urals, will not decline the offer and in the near future, so it is hoped that before the end of 2006 the growth rate of prices drop.