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2019 | Russia | St. Petersburg | Residential Market

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At the end of 2019, the weighted average cost per square metre in business class projects increased by 13% compared to the same period in 2018 and amounted to 171,700 RUB/sq m. In premium projects, the increase was 9% and in absolute terms reached 221,400 RUB/sq m. The maximum cost growth for the year is shown by the Moskovskiy (+13%) and Admiralteyskiy (+11%) districts. The increase in residential prices during the transition to the new scheme is directly related to the need for project financing of construction: the interest rate on a loan for some developers can reach 15% and this changes when funds are transferred to an escrow account.


2019 | Russia | St. Petersburg | Residential Market

Download Report