At the end of the 1st quarter of 2024, the volume of total supply in the secondary housing market in St. Petersburg and the Leningrad region increased by 10% compared to the end of last year and amounted to 29.3 thousand apartments. This growth is due to the natural replenishment of the market with new lots, as well as the “cooling” of consumer activity caused by seasonal factors and the influence of high mortgage rates in the secondary market. The share of the “new secondary” (we are talking about apartments in facilities commissioned after 2010) amounted to 44% in the supply structure in the secondary market of St. Petersburg and the Leningrad region. Such data are provided by experts of the St. Petersburg Real Estate consulting center.
At the end of the 1st quarter of 2024, the number of available lots in the “new secondary” market increased by 11% and amounted to 12.9 thousand apartments. A significant amount of apartments purchased in 2020-2023 entered the market, when prices were actively rising. Thus, the share of apartments in houses commissioned in the last 4 years in the supply structure amounted to 44% in St. Petersburg and the Leningrad region.
It is worth noting that, starting from the 2nd quarter of 2023, there has been a trend towards reducing the share of St. Petersburg in the supply structure (from 72% to 65%) and, accordingly, increasing the share of lots represented in the suburban location (from 28% to 35%). This is due to the sale of apartments in the locations of Kudrovo, Murino, etc.
“The shift in focus to suburban locations is due to the fact that the bulk of the supply falls on small-sized apartments (73%), which is a characteristic feature of the market for these locations, while in St. Petersburg the share of studios and one–room apartments is 58% in total,” comments Olga Trosheva, director of the St. Petersburg Real Estate Consulting Center.
In the 1st quarter of 2024, 34% of the supply in St. Petersburg in the mass market class was concentrated in the price group of 170-215 thousand rubles per 1 sq. m. Objects with an average budget of 5-7 million rubles and 7-9 million rubles occupied 23% and 18% of the supply, respectively.
In a suburban location, the bulk of the mass-market class offer is in the price range from 130 to 190 thousand rubles per sq. m. and makes up 71% of the offer. Most of the offers are presented in the cost range from 3 to 7 million rubles (71%).
Источник: www.bsn.ru
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