The average asked price of residential units has grown by 10% over the year. Based on the data for July 2024, the weighted average price per sq m of living space in the off-plan housing market of Saint Petersburg stood at 273,000 RUB/sq m across comfort, business and premium classes.

Due to the termination of the preferential housing mortgage program at the interest rate of 8%, starting on July 1, 2024, the maximum volume of pent-up demand had been realized in the first half of the year.

Demand exceeded the indicators for the comparable period of 2023 by 20% in the volume of sold square meters and by 30% in the number of concluded shared equity co-investment agreements, reaching the values recorded in H1 2022.

As per the data for July 2024, 1.59 million sq m was on sale, down 23% year-on-year. New buildings and phases within 36 projects were rolled out during the initial six months of 2024, with sales launched in 16 new developments.