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St Petersburg : Country home market - H3 2014

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St Petersburg : Country home market - H3 2014

There are two controversial trends in the luxury countryside market. In the context of unstable fi nancial markets, the high end cottage market shows trends of having a rise in demand against a general decrease in the number of off ers. In the market of B class cottage villages, the situation is vice versa – the supply goes upwards, while sales go down.

In total, as per the beginning of October 2014, the countryside market included 15 A class villages and 39 B class projects for new-builds.

Developers’ activity seems to reduce: as within Q3 2014, 1 new B class village was released for sale.

A decrease in average prices (in USD equivalent) is being observed: there was a quarterly decrease in rates which amounted to 7% for A class properties and 10% for B class housing.

Source : Knight Frank

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Keywords : Knight Frank