The Ekaterinburg City News Roundup highlights recent events and economic forecasts for the region, shedding light on real estate trends, consumer price inflation, and celebration plans for the New Year.
By the end of 2024, experts were anticipating another interest rate hike, but during the recent meeting, the Central Bank opted to maintain the rate at 21%. This decision has left the housing market largely unaffected, as mortgages remain unattainable for the majority. Mikhail Khorkov, head of the analytical department at the Ural Chamber of Real Estate, shared insights with E1.RU about the future of mortgage availability, stating, "Когда будет процентов 14−16, на рынок начнут возвращаться покупатели" (When the rate gets to 14-16%, buyers will start coming back to the market). He estimates the reasonable range for market mortgages begins at around 12%. Khorkov elaborated, noting, "Когда ставка будет 18%, а потом 17, покупатель понимает: «Да, у меня сейчас есть возможность купить относительно недорого квартиру..." (When the rate is around 18% and then 17%, the buyer understands: ‘Yes, I have the opportunity to buy relatively cheap housing...’). Although the Central Bank's key rate is currently static, Khorkov speculates changes are unlikely until summer next year. He predicts, "Скорее всего, процесс будет медленным," (Most likely, the process will be slow), with the optimal market rate possibly being closer to the end of 2026.
Meanwhile, consumer prices continue to rise dramatically, leaving many shoppers stunned. A year-end review by E1.RU reported on the soaring costs of everyday grocery items. For example, the prices of vegetables from the "borscht set" have surged. According to statistics from Rosstat, from January to November, the price of potatoes climbed by 76.4%, onions by 50.5%, and beets by 42.8%. Dairy products have also significantly increased, with butter soaring by 35.8%—from 848 rubles per kilogram at the beginning of the year to 1152 rubles now. Reports indicate, "Цены в магазинах меняются почти каждую неделю" (Prices in stores change almost every week), showcasing volatility factors influencing shopper experiences. The cost of milk rose by 21.3%, and other dairy products like hard cheese surged by 21.1%, with pricing indications averaging 910 rubles for the kilogram.
The upcoming New Year’s celebrations are shaping up to be vibrant yet pricey. E1.RU compiled several options showing both budget-friendly and luxurious experiences available for revelers. For example, to skate through the New Year on the square of 1905, adults will be charged 6000 rubles, and 3000 for children. With festivities scheduled from 11 PM to 2 AM, there’s hope for engaging experiences, including performances and celebrations capturing the spirit of the season. Yet, many locals voiced disappointment at these steep costs.
A free option awaits at the Ice Town located at the Historical Square, which will open on December 31st. This initiative hopes to attract families and children who may not want to spend excessively during the holidays. Interest grows around themed events as well, like "Рай! Новый год в кругу Змеи" (Paradise! New Year with the Serpent) planned at Nebar, emphasizing entertainment and interaction among guests, with pricing around 1000 rubles.
Interestingly, reports indicate disturbances affecting local safety, including incidents at Ekaterinburg's train station. A reportedly intoxicated man engaged in altercations with passersby and later with medical personnel trying to assist him. E1.RU reported, "Бугай избил молодого человека, на место вызвали медиков" (A brute beat up a young man, medics were called to the scene), demonstrating not only community challenges but showcasing the pervasive atmosphere surrounding public safety. Recently, another incident captured the community's attention when on December 25, an Azerbaijan Airlines plane, the Embraer 190 intended for Grozny, crashed near Aktau across the Caspian Sea, adding to the city's growing concerns. Yuri Sytnik, notable pilot and advisor for aviation development, stated, "По курсу из Баку в Грозный он никак не мог оказаться на территории Казахстана" (On the flight path from Baku to Grozny, it couldn’t have ended up over Kazakhstan) pointing out irregularities surrounding this aviation event.
Looking forward, the mixture of rising costs, precarious safety situations, and exciting holiday events paints a complex picture for residents as they welcome the New Year. With economists warning about inflation and rising interest rates, neighborhoods remain vibrant with anticipation yet tempered with economic caution. City life evolves continuously, prompting expressions of hope and concern among its inhabitants as they step boldly and cautiously toward 2025.
