Yekaterinburg's Most Expensive Secondary Housing Nears New-Build Prices
Secondary housing in Yekaterinburg averages 134,400 rubles ($1,340) per square meter, with new builds over 195,000 rubles ($1,950).
The cost per square meter in homes referred to as «recent secondary housing» has almost caught up with new builds. Analysts have calculated that the gap is only 1%.
Thus, a square meter in a new build in Yekaterinburg when purchased from the developer costs on average 198,100 rubles (approximately $1,980), while owners sell apartments in recently completed buildings only slightly cheaper — on average 195,400 rubles per square meter (approximately $1,950).
«Apartments in recently completed buildings — both unsold remnants from developers before the complex was commissioned and properties from investors bought for resale — combine the advantages of new builds (new utilities, modern layouts, the possibility of being »first residents«) and secondary housing (the ability to move in immediately after purchase),» says leading analyst at Cian Elena Bobrovskaya.
However, a significant drawback: with the high price, almost equal to new builds, it is no longer possible to get a preferential mortgage for such apartments, and market-rate mortgages are still very expensive. Recently, we showed how the key rate has changed over the year.
Read also a detailed analysis of the pros and cons of buying apartments in «yesterday»s new builds«.
We gather all news on the real estate market situation, including mortgages, in a special section.
