Аренда и продажа элитной жилой и коммерческой недвижимости Санкт-Петербург, Россия
Palvelut
ELIITTIASUNNOT VUOKRALLE
ASUNTOJEN MYYNTI
TOIMITILAT VUOKRATTAVANA

Analytiikka

18.10.2013 Elite resisential real estate market in Saint-Petersburg, Russia

A segment of elite real estate in St. Petersburg expanded from settled communal flats of the old stock in the central part of the city. In the 90 's of last century, the most popular elite housing were apartment of 250 square meters in old buildings.

But lately, these apartments are rarely positioned as high-end, they are inferior in the characteristics to the primary market.

After all, elite residential property is distinguished not only by the location of the property, transport infrastructure, but also by the technical characteristics of the building: modern engineering systems, noiseless elevators, security and concierge, parking.

Surrounding of the residential building is also of high importance: safe area with proximity to shops, restaurants, schools and kindergartens, health centers and so on.

According to experts the quality of prime real estate market has grown.

Districts, apartments

Despite the fact that the main areas of concentration of luxury real estate in St. Petersburg are well-known, each of them has its own drawbacks. In the central district there is a large number of dilapidated buildings and communal flats. In the central part of the Petrograd district the main problem is accessibility – Kamennoostrovsky and Bolshoy prospects are crowded almost all day long. Vasilevsky and Admiralty districts are not green enough.

Currently in St. Petersburg the market of housing under construction is represented by 33 sites of elite class. The volume of supply is about 124.4 thousand m2. Among them 9 residential buildings belong to lux class - the most expensive and exclusive estate property, the cost per square meter can reach up to 350 thousand rubles or more.

In the beginning of last year, the market of elite housing under construction in St. Petersburg faced deficit of decent offers. Then the number of unsold housing in this segment was slightly more than 30 % of the total market. 30 % is a critical mark, after which it is possible to speak of excess of demand over supply.

Though now the situation has changed, new elite residential buildings appear.  In August 2013 sales started in three sites : "The House on Pesochnaya " from "York Development", a new phase of the project "Smolny Park " from " LSR. Nedvizhimost  - Severo-Zapad"," Smolny Prospect " from" YIT St. Petersburg . "

In the first half of 2013 the average price for 1 m2 was 250 thousand rubles, and at the end of 2012 - about 230 thousand rubles. Experts expect price of luxury housing to grow by 7% before the end of this year.

Prices of elite residential real estate

Now the prices of luxury properties are unstable: if during the 2nd quarter they grew slowly - at a rate of 0.5 - 1% per month, in July, there was a slight decrease by 3.3%, in August prices decreased by 2.9% more. But it does not mean that developers reduce prices or that new projects coming to the market with lower prices.

According to experts the demand for luxury properties is mostly form corporate customers - large companies moving to St. Petersburg. They buy apartments for Russian top managers and for invited expats.

Despite the fact that the luxury property is almost not affected by any crisis, currently it is not in demand among investors. The cost of apartments in this segment is comparable to the proposals in the most prestigious cities around the world, for example, in Nice. That’s why investors choose other options, and in St. Petersburg Luxury Real Estate housing is purchased for living.