2014-10-14-莱坊-Saint-_Petersburg_Country_Market_Q3_2014_5页_6mb

Summary of H3 2014 Country Home Market in St. Petersburg

Market Trends

• Two contradictory trends in luxury countryside market:
  • High-end cottage demand increases amid financial uncertainty, but offers decrease.
  • B-class cottage villages see rising supply with declining sales.
• Overall activity reduces; only one new B-class village added in Q3 2014.

Supply and Demand Dynamics

• As of October 2014: 15 A-class villages and 39 B-class projects active.
• Supply decrease: B-class total supply rose by 23% Q-on-Q due to new additions, but sold houses dropped by 17%.
• Demand limited by factors like customer uncertainty, poor location, and slow construction.
• High-end buyers have few choices as top-priced offers decline.

Price Changes

• Average prices fall per quarter: A-class down 7%, B-class down 10%, driven by currency volatility and selective price hikes in high-demand projects (e.g., +17% for a coastal cottage).
• Price distribution favors high-cost locations like Kurortny District, averaging $2.2 million offers.

Sales and Project Details

• Demand for finished A-class properties strong in prime locations, with many sales nearing completion: over 75% sold in some A-class villages.
• B-class sales lag; new projects added fewer than before, with supply outpacing demand.
• Slow sales for older projects; fewer new offers meet market expectations.