In St. Petersburg and the Leningrad region, sales of land for development increased by 28%

19:38, April 26, 2024

Leningrad region. The real estate market in St. Petersburg and the Leningrad region continues to actively develop, attracting the attention of developers.

Photo: unsplash.com

According to the St. Petersburg Real Estate Consulting Center, in the first quarter of 2024, developers acquired land plots worth 10.8 billion rubles, which is 28% more than last year.

Experts note a change in the preferences of developers in choosing sites for development. If previously the main focus was on apartments, now the main focus is on residential development.

Thus, at the beginning of 2024, 92% of all land transactions were related to residential construction.

One of the noticeable trends that began in 2023 and continued into the current year is the resale of prepared plots between developers. For example, the Lenstroytrest Group of Companies acquired three plots from the PIK Group of Companies in Yanino, Leningrad Region, on which it is planned to build a comfort-class residential complex, as well as a kindergarten and a school. The transaction amount of 1.6 billion rubles was financed by VTB.

Such investments are becoming increasingly popular among developers, allowing them to quickly and efficiently expand their land banks for future projects.

The real estate market of the Leningrad region is experiencing activation – several large transactions for the acquisition of bankrupt property have been concluded recently. The Dogma company, which is the largest developer in the Krasnodar region, acquired the site of the long-term construction project of the Moroshkino residential complex from the bankrupt Norman company for 841.6 million rubles.

Another notable transaction was the purchase of a plot in the village of Luppolovo, Vsevolozhsk district of the Leningrad region, by the company “GK Razvitie” from the Voronezh region. For 822.5 million rubles, the company became the owner of the unfinished buildings of the Finnish Quarters project of the Element-Beton company.

However, the largest investment was the deal of LSR Group, which acquired a plot in the Narvskaya metro area from the bankrupt company Metrostroy. The area of ​​the site is 6.2 hectares, on which it is planned to build 80 thousand square meters of comfort-class housing. Investments in the development of this project are estimated at 8 billion rubles.

The GloraX company also acquired 46.5 hectares of land in the village of Kuttuzi in the Lomonosov district. It is planned to implement a comprehensive territorial development project (CTD) with a total investment of 32 billion rubles.

Experts note that in recent years there has been particular interest in redevelopment in the central areas of the city, due to the limited supply of land for residential development. However, with the preservation of industrial sites in the city, the pace of redevelopment may slow down, RBC reports.