Tuesday, October 24, 2017

Yekaterinburg builds more economy class housing

The Yekaterinburg housing market has been putting up more economy class apartment buildings in order to focus on the mass-market consumer, according to a recent report.

Another noticeable trend the market has seen is a very small share of frozen projects, coming to five percent of all construction jobs at the moment and amounting to only 105,000 square meters out of nearly two million square meters worth of housing currently under construction, Ural Business Consulting reports.

Geographically, the building projects are distributed unevenly across the city, with approximately 70 percent in the southern parts of Yekaterinburg. Companies have to compete in terms of location and quality.

The housing market is expected to continue in this direction of development for the next few years.

Competition is quite low in other parts of the city, with only one or two buildings built at a time, revealing an imbalance that some believe to be dangerous to the northern parts of the city, Ural Business Consulting reports.