Home prices keep climbing across St. Petersburg as buyers pay more for apartments. New buildings show higher costs everywhere from downtown areas to outer neighborhoods. The Real Estate Bulletin reports these price jumps affect the entire city. Two districts lead the market with costs reaching 600 thousand rubles per square meter. Central areas saw the biggest price increases over twelve months.
Downtown St. Petersburg apartments jumped 23.9 percent during the past year. Suburban housing complexes rose 20.3 percent during the same period. Areas far from subway stations still gained 6.3 percent annually. Petrogradsky and Central districts command the highest prices citywide. Buyers face record costs when shopping for new construction homes.
Residential buildings reached 300 thousand rubles per square meter for the first time last month. Frunzensky district tops all areas at more than 370 thousand rubles per square meter. Six other districts crossed the 300 thousand ruble threshold recently. These areas include popular neighborhoods where families want to live. May sales dropped 9 percent compared to April with 3,417 shared construction deals.
Downtown St. Petersburg apartments jumped 23.9 percent during the past year. Suburban housing complexes rose 20.3 percent during the same period. Areas far from subway stations still gained 6.3 percent annually. Petrogradsky and Central districts command the highest prices citywide. Buyers face record costs when shopping for new construction homes.
Residential buildings reached 300 thousand rubles per square meter for the first time last month. Frunzensky district tops all areas at more than 370 thousand rubles per square meter. Six other districts crossed the 300 thousand ruble threshold recently. These areas include popular neighborhoods where families want to live. May sales dropped 9 percent compared to April with 3,417 shared construction deals.
