Apartments in St. Petersburg get almost 30% more expensive during three years

The prices for new apartments in St. Petersburg grew by 29.05% during May 2018 – December 2020 from 89.5 thousand rubles (1.2 thousand dollars) per square meter to 126.2 thousand rubles (1.7 thousand dollars).

The growth was the highest in the comfort and business class segments, Alexey Lyakin, founder of the Property School, told Piter.tv. In 2021, he does not expect a strong increase in prices for housing.

According to Lyakin, prices for apartments in many new housing projects are overheated due to the high demand and low mortgage rates, he estimates the share of such projects to make 60-70% of the market.

The demand for high-comfort housing in St. Petersburg has grown.

Photo and video: St. Petersburg TV channel