Demand for Properties
Properties within the city centre are in great demand for both Business and residential use. Small hotels are opening due to the lack of good apartments and are booked 2-3 months in advance.
Good Western standard offices are desperately required together with residential apartments for foreigners and newcomers to the city.
High-rise housing projects are now being implemented in the centre due to the very growing demand.
Profitability of this business is pretty high, small apartments in the older part of St. Petersburg can pay off within 3 to 5 years being leased on a daily basis calculated on 2 out of 3 days occupation of visitors or on a short term lease. Some estate agents say that apartments can be paid off even faster now taking into account the growth of demand and prices due to the 300th anniversary year.
My associates in St. Petersburg are currently engaged in a renovation project near to Petropavlovskaya Fortress which is one of the major tourist attractions in the historic city. The façade of the building having one main entrance (good for security). It will form ten good sized western style apartments two on each floor. The building was constructed in 1913, of classic design and with lift and fireplaces.
Alistair J Burgess MIConstM
Click to Email > mail@alistairburgess.co.uk
Telephone : 44(0)1843 291769
Mobile :44( 0)7814 032790