20 May Elite real estate in St. Petersburg: trends and prospects
According to experts, the St. Petersburg market of elite real estate is gradually losing its exclusivity.
It clearly shows the features that are previously inherent exclusively to the sectors of business – and comfort class. We are talking about enlargement of objects under construction at this stage and changed areas of their location.
Everything is more accessible and further from the center
Today, a fairly wide circle of consumers can afford to buy an elite apartment. It cannot be said that prices have collapsed in this sector of the market. It’s just that the number of offers of business-class objects, which are distinguished by a no less high level of comfort and democratic cost, is steadily increasing on sale. This influenced the formation of prices in the premium sector.
But it is difficult to talk about general averaging of prices in this niche. Each transaction in the luxury housing sector is individual, standard market laws do not always work here. There are two criteria for its success – the degree of impudence of the seller and the interest of the buyer.
It is also too early to say that the elite housing sector in St. Petersburg is saturated. There are not so many truly premium objects in the Northern capital.
In addition, one very interesting trend is observed: due to the lack of building sites in the central regions, the construction of luxury properties has shifted. Territories close to the historical part of the city are becoming popular.
We are talking about the Petrograd side, Kamenny and Krestovsky islands.
The zone of elite construction is expanding not in a uniform circle, but in separate locations. Many areas that were previously considered only as a territory for the construction of business-class facilities are now receiving the premium label.
How the parameters of modern luxury housing are changing
Not only the geography and cost of premium class apartments are changing. Transformations occur directly and with the objects themselves. Apartment areas are shrinking.
In new projects, developers show striking unity and refuse excess square meters. Options with sizes 250-300 sq. m. recently moved into the category of exclusive, they are extremely rare on the market.
In premium apartments, the following arrangement of areas is now observed: in one-room apartments from 50 sq. m, in two-room apartments – from 70, in three-room apartments – from 85. The size of the average luxury housing today has decreased to 100 square meters. m.
In elite houses, priority is given to two- or four-room apartments, one-room apartments are most often designed according to the residual principle.
The reduction in space in no way affected the exactingness of buyers of luxury real estate. For them, it is still important that the apartments have individual features.
Comfort and excellent quality are also important, but for a lot of money, people do not want to live in banal kopeck pieces or three rubles.
That is why the houses of the old housing stock, located even in the historical center of St. Petersburg, are beginning to lose ground very much.
Worn-out communications and illogical layout are being replaced by modern premium complexes equipped with everything necessary for a comfortable life and leisure. For potential new settlers, the level of well-being and safety of the adjacent territory is also important.
Thus, in the St. Petersburg elite real estate market, the deficit remains, but only for objects with high visual and quality characteristics. And at this stage, only a few projects of the housing stock of the Northern capital meet such criteria.