H1 results: apartments increased by 15% in price

Offer

The number of commissioned apartment complexes in St.Petersburg and Leningrad region totals to 91 project for 27,796 units as at the end of March 2022. In H1 2022 16 apartment complexes were put into operation. Market was replenished with 6,025 units in total.

Large apartment complexes commissioned in H1 2022.

Apartment complexes for almost 19,440 (more 617,000 sqm) units were at the stage of construction as of the end of Q2. Comfort class apartments occupy the largest share in the market structure. Compared to the business and elite class, they are more ambitious in terms of the number of units. Moskovsky and Vyborgsky districts of the city are leading in terms of the volume of supply.

12,000 units are planned to be put into operation in 21 complexes by the end of 2022. With a high degree of probability, the deadlines for the commissioning of some projects will be postponed to 2023.

Apartment complexes to be commissioned in H1 2022

In H1 2022 twelve projects for a total of 6,024 units were put on sale.

Demand

1,798 units were sold in St. Petersburg in H1 2022 that is 28.1% less compared to the same period in 2021. The absolute leader of 2022 is the apartment complex Start, in which 339 units were realized in the analyzed period.

Price dynamics

Average price growth for Q2 2022 on the St. Petersburg apartment market was +3.4% relative to Q1 2022 and +14.3% at the beginning of the year.