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More than 1.5 million sq. m of housing is on sale in the inner suburbs of St. Petersburg

 

Around 40% of demand for residential property is for adjacent to St. Petersburg zone of Leningradskaya region. And developers increased the supply: in 2015 sales of flats in residential complexes with total area of 1.6 million sq. m were started. 

In 2015, according to the official statistics of Leningradskaya region Construction Committee, residential blocks with total area of around 1.5 million sq. m (except private housing) were commissioned; that is by 63.2% more than in 2014 (914.9 thousand sq. m). According to “Peterburgskaya Nedvizhimost” consultancy centre, the volume of the primary residential market of suburban area in the beginning of 2016 was at the level of 4.1 million sq. m (that is around 100 thousand flats). 2.1 million sq. m of them are offered for sale, including 1.8 million sq. m of economy class and around 300 thousand sq. m in comfort class.

‘Many developers are working here. Together with the help of the Government we are able to implement integrated development projects provided with the necessary social and commercial infrastructure,’ CEO of Normann group of companies Nikolay Kopityn mentions. ‘Self-start of new complicated projects now, due to uncertain economic circumstances, is unlikely’. 

However, several days ago the Governor of Leningradskaya region Alexander Drozdenko announced that the region will partially refuse the purchase of social properties from developers. Yet the program “Social objects in exchange for taxes” was one of the factors attracting developers to Leningradskaya region. From the other side, social object in St. Petersburg are not bought out, but houses are still being constructed.

Everyone to north

A kind of Mecca of suburban development remains Murino – mass construction of the district between the underground station “Devyatkino” and Lavriki village is on the way, projects in Novoe Devyatkino village are started. The last quarters of Yuzhniy microdistrict are being built up, less actively – in Yanino. In total, Vsevolozhskiy district accounts for 86% of the total suburban construction volume.

‘Due to the rapid decrease of the effective demand, developers try to reduce the construction costs by moving to completely non-obvious locations, for example the village named after Sverdlov, Otradnoye,, Pudost, Orzhitsy,’ Head of the Sales and Acquisition Department of Surveyor International Group Maxim Ignatovich mentions, ‘Even 5 years ago the most desperate optimists could not imagine these settlements on the map of residential development’.

In Q4 2015 sales in 26 projects located in Leningradskaya region were started, the total residential area in them is about 314.1 thousand sq. m. The major projects are the residential complex “Sem’ Stolits (London)” by SetlCity (40 thousand sq. m) and the 7th phase of RC “Vernisazh” developed by Polis Group (24.7 thousand sq. m) in Kudrovo, RC “Territoriya” by Lider Group company (23.87 thousand sq. m), several houses of RC “Solnechniy” by “Arsenal Nedvizhimost” (23.33 thousand sq. m), the third phase of RC “Okhtinskaya duga” by “Zapstroy” company (21.85 thousand sq. m), and the last block of the residential complex “Tridevyatkino Tsarstvo” developed by “Unisto-Petrostal” company (20.94 thousand sq. m) in Murino.

Benefit in square meters

In the suburban area mostly high-rise residential property of economy class is being developed. “Although, according to the logic and international experience, low-rise residential buildings should be located there,’ CEO of Navis Development Group Alexander Lvovich notes.

‘Traditionally residential property in adjacent to St. Petersburg areas of the Leningradskaya region was designed for those, who planned to improve living conditions within the available amount of money, even by changing registration with the regional one,’ Maxim Ignatovich says, ‘But now purchasers want not only to increase the area of a flat, but even to get housing of a higher quality’.

‘Customers are focused on more comfortable living environment, cozy courtyards, developed infrastructure,’ CEO of “Unisto Petrostal” Arseniy Vasiliev explains, ‘And future owners with higher demands choose residential blocks with the minimal number of storeys farther from the Ring Road’.

Appropriate price

‘In the beginning of 2016 the average offer price of mass market in the suburban areas amounted to 69,100 Roubles per 1 sq. m, including 89.4 thousand Roubles per 1 sq. m in comfort class and 65.7 thousand Roubles per 1 sq. m in economy class,’ Evgenia Litvinova says, ‘In 2015 prices changed insignificantly’. ‘The market hasn’t stimulated developers to increase price of 1 sq. m,’ Commercial Director of “Mavis” Company Elena Palchevskaya supposes, ‘in the beginning of 2015 weakening of Rouble has caused decrease of demand, in March the market stabilized due to launch of the state mortgage support program, but later the demand remained at the average level’.

‘Even in complicated circumstances real property is a good combination of profitability and risks compared to another investment methods,’ CEO of Polis Group Ivan Romanov considers, ‘So, if it is planned to buy a flat in a house under construction it is better to do so during this year when in the market there is a wide range of residential blocks at different stages of construction’.

New districts

A logical extension of construction in the north of the city is further development of areas adjacent to the Ring Road. Bugry, Lavriki and Kapitolovo soon will become the new centres of mass residential development. ‘Another attractive aresa for economy class residential development are located in the south – mainly they are Lomonosovskiy and Gatchinskiy districts,’ Arseniy Vasiliev notes. Active development of the southern suburbs is restrained by less developed transport infrastructure compared to the northern areas. By this time construction in the suburbs was quite active. However, according to Dmitry Sidorenko, in the medium term the moratorium on transfer of land plots from one category to another will influence the construction. And announced limitation of buyout of social objects has not added the optimism to developers.

 

Maria Mokeicheva - maria.mokeycheva@dp.ru

"Delovoi Peterburg",  02/26/2016

Short address for the article: http://www.dp.ru/104eok/