In the first three months of 2024, there were fewer offers on the real estate market in St. Petersburg than in the fourth quarter of 2023. Their volume decreased by 59%. RBC St. Petersburg reported this on Wednesday, April 24.
“Developers began to “hold back” and not release part of the inventory in new projects. The reasons for market participants may be different: someone sells apartments in limited pools, testing the demand potential and consumer interest in an object or location. A number of players monitor the current cost of construction and want to immediately set an adequate market price; some companies, in principle, tend to maintain liquid inventory,” Mikhail Gushchin, vice president for marketing and product of the RBI group, shared with the publication.
He noted that construction is now actively developing near the Chernaya Rechka and the Obvodny Canal embankment.
Previously, the St. Petersburg Diary wrote how to find out the value of your apartment before selling.
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