The St. Petersburg office will specialize on luxury real estate.
The global auction network Sotheby’s intends to establish an office in St. Petersburg. Currently, Sotheby’s has about a thousand offices in 72 countries, Russia included.
The new office in St. Petersburg will specialize on city and country luxury property, not only in Russia, but also abroad. Customers will be able to acquire reals estate on the conditions allowing them and their families to become citizens of the country of property.
However, the core business is expected to be Russian estate for foreign customers.
According to Andrey Boikov, Partner with Rusland SP, the Russian market is still a terra incognita for many foreigners, and a reputable brand entering this market could stimulate new deals, which will be concluded via this company.
A quarter of all the deals concluded by Sotheby’s Moscow office was for foreign customers.
Photo: St. Petersburg TV channel