OREANDA-NEWS  According to the preliminary results of 2024, the volume of new residential projects on the market in St. Petersburg decreased by 36% compared to last year to 1.6 million square meters, the head of the St. Petersburg Real Estate consulting center (part of the Setl Group) told a press conference Olga Trosheva.

The volume of new supply in the Leningrad Region, in turn, fell by 21% this year to 1.1 million "squares," she said.
"The main trend this year, of course, is a decrease in the volume of supply," Trosheva said.

At the same time, she pointed out, the volume of transactions with new buildings in St. Petersburg in the second half of 2024 actually returned to the position of the first half of 2023 – 5.5-6 thousand transactions per month, rolling back from the peak values of the end of last year (10-11 thousand per month).

The offer prices on the market of new buildings in St. Petersburg increased by 6% over the year – to 247 thousand per square meter, in the Leningrad region – by 3%, to 151 thousand rubles per square meter, according to calculations by St. Petersburg Real Estate.

In turn, Olga Kobyakova, commercial director of St. Petersburg Real Estate, clarified that in 2024 the share of installment transactions in the region's market increased to 30% (from 8% in 2023). "It's like in 2012, we've already lived with it," she stated.

Mortgage transactions, in turn, account for 66%. At the same time, according to the company, after the termination of the massive preferential mortgage program on July 1 of this year, 73% of mortgage transactions are family mortgages, and 25% are carried out at market rates. The share of IT mortgages fell from 10% in the first half of the year to 1% in the second half of the year.