The St. Petersburg Real Estate Market today behaves quite actively. It can be argued that the level of primary and secondary real estate markets has practically reached the level that was before the crisis. Despite the extremely high population density in St. Petersburg, construction is quite fast and very high.
This is all possible only thanks to the development of certain new territories that directly adjoin the city itself and are part of the Leningrad region. At this stage, almost all developers very positively assess the situation, which is currently developing in the primary real estate market. Even in spite of such a level of construction and expansion of offers in the primary real estate market, a strong collapse of housing prices is not observed and not expected.
Even taking into account the negative dynamics in the demand market, construction companies will complete the construction on time, relying, first of all, specifically on their personal efforts. This is evidenced not only by the cool pace of the construction of buildings, but also by the fact that developers continue to actively increase the number of their lands by participating in property auctions that allow you to get the right to rent to certain territories for the construction of any housing.
This year, a lot of things will depend on the economic development of European countries. In this case, if the next wave of the crisis covers completely all of Europe, then this will definitely affect the Russian economy, and its real estate market.
