Reduced key interest rates spur apartment sales in Ekaterinburg's new constructions.
In the city of Yekaterinburg, the real estate market is facing a challenging period. Despite the Central Bank of Russia's efforts to ease borrowing costs by lowering the key rate, the market is grappling with oversupply and plummeting sales, causing financial distress among developers.
According to the latest data, the average price for listings in real estate remains steady at 163-166 thousand rubles per square metre. However, the number of DDA deals in July 2025 represents a 32% decrease compared to the same period in 2024. This decline in sales is particularly concerning, with nearly 20% of Russian property developers at risk of bankruptcy due to falling sales caused by high mortgage interest rates.
The situation is further exacerbated by the oversupply of real estate, which pushes prices down but does not stimulate enough buyer demand. Many buyers face high mortgage rates and rising delinquency in loan repayments, which suppresses demand in markets like Yekaterinburg. In fact, mortgage delinquency rates are rising overall in Russia, nearly doubling year-on-year.
One of the most affected developers in Yekaterinburg is the former PIK Group general contractor, StroyProekt Group, which is on the verge of collapse due to these market pressures. Sales volume has fallen sharply, with developers selling 10.4 million square metres of new housing in the first half of 2025, down 26% from the same period last year, and sales revenue dropping by 16%.
Mikhail Khorkov, head of the analytical department of the Ural Real Estate Chamber, shared these findings on his Telegram channel Reburg Ekb. According to Khorkov, approximately 1,900 DDA deals were registered in the new builds market in Yekaterinburg in July 2025. The average deal price for real estate in Yekaterinburg remains unchanged at around 157 thousand rubles per square metre. A significant number of apartments in Yekaterinburg are still sold on installment plans, and the average price in the listings for real estate in Yekaterinburg also remains unchanged at 163-166 thousand rubles per square metre.
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Investors may find the real-estate market in Yekaterinburg challenging with falling sales, as the number of DDA deals in July 2025 has decreased by 32% compared to the same period in 2024, and mortgage delinquency rates are rising overall in Russia. The financial distress among developers is escalating, with nearly 20% of Russian property developers at risk of bankruptcy due to the high mortgage interest rates and plummeting sales.
