Water views make apartments worth more in St. Petersburg, real estate experts say. People pay premium prices for homes with windows facing the Bolshaya Neva River, the Hermitage Museum, the Vasilievsky Island Spit, or the Aurora cruiser. According to Georgy Patanin, who heads a major property agency, these locations represent "trophy real estate."
Buyers also value views of the Malaya Neva, Gulf of Finland, Western High-Speed Diameter, Petrovsky Island, Krestovsky Island, or Elagin Island. The difference between water-view apartments and courtyard-facing units can be dramatic. Some buildings show price gaps of 50-100 percent depending on which direction the windows face or what floor the apartment sits on.
Layout matters less than the...