Nouvelles

Luxury apartments can now be found in almost all districts of the city. But the most expensive ones are located centrally in densely built-up “golden triangle” area or in club-houses of Krestovsky and Kamenny islands. According to recent market analysis the average price in primary market has reached 770 000 rubles per square meter which exceeds average market prices for elite real estate.

Such a high price for housing is explained by the uniqueness of the reconstructed objects and their limitability. Elite apartments are located in the buildings most of which are considered to be architectural heritage and are protected by UNESCO. Golden Triangle is a prime elite location of the city - since early 1990s there evolved a community of private investors who bought the property with the purpose of renting it out. A lot of apartments are owned by the foreigners. The majority of the buildings, compared with other areas in the center, are well-maintained: the facades, entrance halls and staircases are renovated. The major demand in this part of the city is for the apartments not more than 100 m2. There are no requests for spacious apartments from the families because of the lack of green areas and parking zones in the city center.

The other area that is being actively developed is the area around Smolny Cathedral: this area now accounts for over 80 % of newly constructed objects in the Central District. New projects are "Smolny Prospect", "Smolny Park", "Paradny Kvartal" and "Alexandria".

The area around Tavrichesky park is perfect for families due to the good ecology, green areas, slow traffic on the road. The area is a prestigious one as it is close to Smolny and to all the major Consulates and Embassies.

New buildings are being constructed in other city districts too, especially in western part of Petrogradskaya side where lots of industrial plants have been located. As for the eastern part – it’s being developed too but the rent of the apartments is higher which is explained by a better ecology and better infrastructure.

Elite real estate in central districts is often criticized for the diversity of social environment. The neighborhood is not that good due to communal apartments that still exist. The other situation is at Kamenny and Krestovsky islands. There are about 25 club-houses with a high social status of its tenants. The only new project there at the moment is Brilliant House. Petrovsky Island is also attractive for developers, especially its central and western parts. Elite real estate on the islands is in demand due to green areas, fitness facilities and its healthy environment.

According to recent data 35 000 meters2 were sold in elite real estate during the first half of the year. Altogether 250 apartments were sold, mainly in central districts (65 %).