Demand on the apartment market increased by 30%
Offer
According to analysts of Maris| Part of the CBRE Affiliate Network, as of October 2021, the number of commissioned apartment complexes in St.Petersburg and Leningrad region totals to 58 projects for 20,719 units, which is 1,115,800 sqm.
In total, 8 apartment complexes were put into operation in the Q3. The market was replenished with 1,525 units.
Apartment complexes introduced in St.Petersburg, Q1-Q3 2021
|
Name of the complex |
ADDRESS |
DEVELOPER |
NUMBER OF UNITS |
|
ARTSTUDIO Moskovsky |
1, Zaozernaya street |
RBI |
368 |
|
М97 |
97, Moskovsky Avenue |
Поли |
150 |
|
IN2IT 1 оч |
101, Vitebsky Avenue |
Plaza Lotus Group |
533 |
|
Acqualina Apartments |
13A, Podyeznoy line |
Aqualina Development |
133 |
|
ACADEMIA SUITES&HOTEL |
6, 3-rd line V.O. |
Academia |
16 |
|
Apart-Hotel |
19, Bolshaya Poduyacheskaya street |
Investa |
32 |
|
Apart-hotel Port Comfort |
28-30, Sadovaya street |
Investa |
40 |
|
NEOPARK |
3, Moskovskoye Highway |
LSR |
253 |
Comfort class apartments occupy the largest share in market structure (existing and under construction projects). Compared to business class and elite class they are more extensive in terms of the number of apartments. The leaders among urban areas are Moscovsky and Vyborgsky districts.
As of the end of Q3 2021, apartment complexes for more than 18,322 units (almost 623 th. sqm) are under construction. By the end of 2021 it is planned to put into operation 5,938 units in 14 complexes. However, with a high degree of probability, the deadlines for the commissioning of some projects will be postponed to 2022.
Largest objects planned to open in 2021 - «Start», BW Zoom Hotel, Adagio Access, AVENUE on Myzhestva street, Docklands Smart.
Main competitor of apartments in the current conditions is the hotel real estate market. And with the growth in the number of service apartments, this competition is only getting escalate. This way, by 2022 the number of serviced apartments will account for almost a third of the accommodation in St. Petersburg.
By the end of 9 months of 2021, 3,857 apartments were sold in St. Petersburg, which is 39% more compared to the same period in 2020 (2,769 units).
Top 5 projects in apartment sales for the first nine months of 2021 – Start, Pro.Molodost, VALO, In2It, Salut.
The main trend of the market over the past two years has been a steady increase in demand for purchase of apartments for subsequent rental. As of the end Q3 2021, about 2,800 units were on sale on the market.
Price dynamics
Prices for apartments in the medium term will depend on the final wording in federal law regarding the legal status of apartments, the adoption of which is likely to happen next year.
Growth of the average price for Q3 got +6,2% (relative to the Q2 of current year). By the end of the year, the price increase may be about 5%–7% in Q4, it depends on the economic and epidemiological situation in country and region.