Revenues of city developers fell by 47%.
In the first quarter of 2024, St. Petersburg developers sharply reduced the introduction of new properties to the market. Compared to the fourth quarter of last year, the figures fell by almost 60%. RBC writes about this.
During the reporting period, 575 sq. m. were brought to market. m of housing. However, analysts at the development company RBI specify that the figures are 43% higher than the figures for the first quarter of 2023.
This year, 14.7 thousand apartments in 21 residential projects were put up for sale. More than half of them are located in territories within the boundaries of the Ring Road, with the exception of a few areas. Developers are actively developing “promising near-central zones,” including locations near the Obvodny Canal and the Black River.
— The reasons for market participants can 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,” said Mikhail Gushchin, vice president for marketing and product of the RBI group.
The market situation also affected the revenue of city developers. The figures decreased by 47% – to 25.6 billion rubles.
Earlier, 78.ru wrote that over five years, St. Petersburg developers transferred 125 social facilities to the city.
