Buyers have become younger and more demanding: trends in the new building market

Close-up of a modern digital camera with a vibrant red strap, isolated on a white background.

 Покупатели стали моложе и требовательнее: тенденции рынка новостроек

Over the past five years, there have been significant changes in the portrait of the buyer of new buildings in St. Petersburg, which directly affects the real estate market and developers. In 2024, this is important for Russians, as new preferences and requirements of buyers dictate changes in infrastructure, planning and construction technology. Young families, freelancers and IT specialists are forming new trends that are taken into account when developing residential complexes. Alexey Bondarev, an expert on the market of new buildings in St. Petersburg, shared his observations on how these changes are reflected in the modern real estate market.

The rejuvenation of the customer audience and the growth of demands for details: over the past five years, the average age of buyers of new buildings has decreased from 46 to 40 years. Young buyers (under 35-40 years old) demand a more modern approach, including 3D tours and modern technologies, as well as paying more attention to repair details and infrastructure. Changing location and infrastructure preferences: young buyers prefer apartments in new areas close to green areas such as Novoselye and Kudrovo, while adult buyers tend to live closer to the city center. Coworking and workspaces in residential complexes have become an important aspect for buyers, which is due to the growing number of freelancers. The impact of changes on developers: developers are adapting to new requirements by offering more compact and functional apartments with improved infrastructure. The changes include the creation of recreation areas for teenagers and other previously overlooked details, reflecting research by architects, psychologists, marketers and developers aimed at meeting new customer needs.

Alexey Bondarev, General Director of the real estate agency “PRIDE GROUP”:
— In the last five years, the portrait of the buyer of new buildings has undergone significant changes, reflecting a wider range of requirements and preferences. In today’s world, customers are becoming more demanding of details, and their requests are becoming more specific and often unrealistic. If earlier the main attention was paid to the number of square meters and number of floors, today the priority is the infrastructure of the complex, repair details and the technologies used in the apartments.

One of the most noticeable changes is the rejuvenation of the consumer audience. Today’s buyers are younger, which necessitates the introduction of new technologies and adaptation to modern standards. For example, the use of 3D tours that allow you to virtually walk around the future apartment becomes an integral part of the sale process. While the older generation may be wary of new technologies, buyers under the age of 35-40 perceive them as a sign of relevance and modernity. According to statistics, the average age of our customers has decreased from 46 to 40 years over the past five years.

Considerable attention is paid to the details of the residential complex and its infrastructure. Increasingly, buyers are requesting the availability of coworking spaces in the complex, which is associated with an increase in the number of freelancers. For this category of people, it is important to have workspaces in the immediate vicinity of the house. Developers, in turn, adapt to these changes, taking into account the needs of young buyers in their projects.

Location preferences have also changed. Young buyers tend to purchase apartments near green areas and in new areas such as Novoselye and Kudrovo. The adult audience, on the contrary, prefers to live closer to the city center. This difference is due not only to the price of the objects, but also to the different needs of these groups of buyers.

St. Petersburg traditionally attracts buyers from the north of the country and from the north-western region. Regional buyers make up about 70% of all our customers. This indicates that the demand for housing in St. Petersburg remains stable among residents of the regions.

Among the new categories of buyers, IT specialists stand out, whose number has increased thanks to mortgage support. The military are also frequent customers, and their number has been steadily growing over the past couple of years. However, the largest growth is observed among self-employed and individual entrepreneurs, as well as freelancers.

These changes in the portrait of buyers directly affect developers, forcing them to adapt and offer residential projects aimed at both young and older buyers. Apartment layouts and project infrastructure are changing in accordance with new requests. In particular, more attention is being paid to the creation of recreation areas for teenagers, which was not previously taken into account sufficiently.

Apartments are becoming more compact, but at the same time more functional. This is the result of joint research by architects, psychologists, marketers and developers aimed at meeting new customer needs. Today’s apartments offer more opportunities for efficient use of space, which is especially important for young families and professionals working from home.



Leave a Reply

We use cookies to give you the best possible experience on our site. By clicking "Accept", you agree to our use of cookies.