Four—room apartments in St. Petersburg have risen in price by 24% over the year, the average purchase budget is 42.2 million rubles

Four-room apartments in St. Petersburg and Moscow have overtaken other options in terms of cost growth. In St. Petersburg, the average transaction budget in the second quarter of 2024 amounted to 42.2 million rubles, which is 24% higher than a year earlier, analysts at GloraX estimated. In Moscow, the growth was 43%, and the average check was 92.6 million rubles. At the same time, the demand for them remains stable, albeit low.

According to Sergey Gusev, director of the analytics and pricing department at GloraX, 340 transactions with four—room apartments were concluded in the capital in the second quarter of 2024, and 49 in St. Petersburg, which corresponds to last year’s figures. At the same time, they buy large apartments for themselves, and not for the purpose of investing. Changes in the mortgage market did not affect this segment either, because the cost is quite high and exceeds the limits of preferential lending. “The intensive growth of the average transaction budget for the year is due to the redistribution in the structure of the supply of four-room apartments for projects of different price categories. Therefore, the average check is growing,” the expert says.

The difference in the cost of an “average” four-room apartment in St. Petersburg and Moscow is explained by the fact that more expensive housing is being built in the capital: the business class, premium and elite segment accounted for 86% of all four-room apartments purchased in the second quarter of 2024. In St. Petersburg, 82% of purchases are comfort and business class apartments. There is also more apartment space in Moscow: an average of 131.3 m2 compared to 113.8 m2 in St. Petersburg, and over the year the capital’s “four—bedroom apartments” grew by 10.2 m2, and in St. Petersburg – by only 4.6 m2.

Apartments with fewer rooms have also risen in price over the year, but slightly less. Thus, two—room apartments in Moscow have become more expensive by 23% (the average budget is 26.1 million rubles), and in St. Petersburg — by 10% (14.7 million rubles). “Treshki” rose in price in Moscow by 21% to 38.4 million rubles, and in St. Petersburg — by 20% to 21.2 million rubles.

Источник: www.fontanka.ru