The average price per square meter in the primary market of business class housing in St. Petersburg in the first half of 2024 has increased by 9% - up to EUR 4,000, according to a study by the real estate consulting center in St. Petersburg, which is part of the Setl Group holding.
"The average price per square meter in business class properties in the first half of 2024 increased by 9% and stood at EUR 4,000 at the end of June. It is most expensive in the Central region - 5150 EUR/sq.m. Here, the growth is about 15% in six months", the data show.
In second place in terms of price growth, according to the survey, is the Moscow region - 446 thousand rubles. per sq. m (+5%). Also among the three most expensive is the Petrograd region (+8%) - 4,600 EUR/sq.m.
At the same time, buyers of business-class housing in the first half of 2024 more often choose the Vyborg region - it represents 26% of demand, average prices here reach 3300 EUR/sq.m. In second place is the Vasileostrovsky district with a share of 16% and prices of 3,800 EUR/sq.m., in third place is the Admiralty district with 10% of the demand and prices of 3,800 EUR/sq.m.
According to the director of the consulting center "Petersburg Real Estate" Olga Trosheva, in the first half of 2024, more than half of the transactions were carried out on deferred payment. “The share of deferred payment transactions in the business segment reached 53%, the share of mortgage transactions - 42%. A total of 1,700 apartments were sold from January to June, which is almost comparable to the figures for the same period last year (1,600)”, her comment was quoted in the announcement.
The volume of supply of business-class housing in St. Petersburg has decreased by almost one and a half times since June 2023; at the beginning of July 2024, 3,900 apartments were for sale.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE