According to research, sales in the primary housing market of St. Petersburg and neighboring areas of the Leningrad Region in the first quarter of 2019 will amount to 1 million square meters. Consequently, the demand for housing under construction remains at the level of the first quarter of last year.
At the same time, real estate prices have grown in all segments of the mass market class. At the end of the quarter, the average purchase budget increased by 3 percent, and the offer price is now 3.5 percent higher than at the end of last year.
Demand in the first quarter of 2019 was concentrated on 24-26 sq. m with an average cost of 2.5-2.9 million rubles, one-room apartments with an area of 34-36 square meters. m at a price of 3.5-4 million, two-room apartments with an area of 54-59 square meters. m with an average cost of 5.5-6.5 million.
The cost of "high" comfort-class facilities is 15-20 percent more expensive than for apartments in integrated development projects. At the same time, the bulk of supply in the Comfort+ segment was concentrated in redevelopment projects: in the area of Oktyabrskaya Embankment, Obukhovskaya Oborony Avenue and others.
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