Demand for service apartments is decreasing in St. Petersburg

Demand for service apartments is decreasing in St. Petersburg

According to the NF Group consulting company, in the first half of 2024, 935 units with a total area of 25.7 thousand square meters were sold in the primary market of service apartments in St. Petersburg.

В Петербурге снижается спрос на сервисные апартаменты

This is 8% less than the number of transactions and 6% less than the area of lots sold during the same period in 2023.

“Apartments managed by the Management Company act as a ready-made investment product that has become widespread in the St. Petersburg market. In the last couple of years, the attractiveness of service lots for investors has decreased due to the high values of the key rate,” says Olga Shirokova, Regional Director of the Consulting and Analytics Department at NF Group.

According to her, some potential buyers switched to high–yield banking products, while others turned to the residential real estate market, where preferential mortgage programs were previously widely available.

“As the key rate decreases, investors’ interest in the format is expected to return,” the expert predicts.

Источник: www.bn.ru

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