Housing prices in Yekaterinburg decreased 0.2 percent over the last two months, the Ural Chamber of Real Estate’s Analytical Center reported on Thursday.
The average cost to purchase a home is now $1,810 per square meter, which is a 4.1 percent increase since the beginning of the year.
The number of existing homes on the market reached a six-year high with 10,000 apartments and 1,700 rooms in communal apartments available.
The total number of apartments has increased by 36 percent since April, which amounts to more than 2,600 extra apartments available.
The number of new homes on the market also increased, with 3.3 million square meters of new apartments being built this year. This includes 2.8 million square meters of apartment buildings in Yekaterinburg, 300,000 square meters in the suburbs, and another 200,000 square meters in apartment hotels and lofts.
Within the city of Yekaterinburg, 25,000 new apartments are currently being offered by developers.