In 2023, the share and number of investment purchases in the residential real estate market of St. Petersburg will grow to 20% (in 2022 – 14%), and in 2024 it may exceed 30%, City Solutions construction company told Izvestia on August 14.
It is noted that such indicators will be affected by the return of foreign tourists. Vasily Timofeev, CEO of City Solutions, clarified that the share of investment purchases will increase due to investors buying flats or apartments for short-term lease.
“The yield on numbers for June and July in St. Petersburg turned out to be really very high. Even when buying real estate for themselves, people began to consider such a purchase as an investment. Realtors have noticed this trend, they have already begun to sell real estate as objects that can make a profit in the future,” added Katerina Soboleva, Vice President of Becar Asset Management.
In her opinion, in five years it will be possible to notice that in the portfolio of investors, including non-professional ones, the share of real estate will grow to 70%.
“We see an increase in investor interest in housing, they foresee the return of the tourist flow. The introduction of electronic visas for most European countries, the permission of group tourism from China, the strengthening of the euro and, as a result, the reduction in the cost of local services, including medical tourism – all this will lead to an increase in demand for short-term rentals, ”Timofeev suggested.
According to him, the peak of demand in the market of new buildings will fall on studios and one-room apartments with an area of 20-35 square meters. m, located near historical monuments and within walking distance from the metro. Such housing is considered the most investment attractive.