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Petersburg Real Estate Corp. Sums up the Results of its Operations for 2012

2013 march 12

Petersburg Real Estate Corp. (a company of Setl Group) has summed up the results of its activities for 2012. Last year the company made 10,378 transactions in the new construction real estate market of St. Petersburg and Leningradskaya Region. This is 91% more than in 2011. “On the average, about a third of the transactions are effected using mortgage. Among reliable developers who have been able to attract many partner banks thanks to their reputation, this indicator reaches 50%,” - Oleg Pashin, CEO of Petersburg Real Estate Corp. comments. “The keenest demand is still for studios and one-room flats, though we have been observing an increasing demand for EURO format two-room apartments with a large kitchen-living room combo and a compact bedroom. The main trend of the past year was the demand shift towards sites at the boundary of St. Petersburg. Choosing between the economy class within the city precincts and the comfort class in the suburban area, clients tend more frequently to opt for the second alternative.” St. Petersburg Realty Project Development Center is the biggest broker in new construction housing real estate sale in St. Petersburg and Leningradskaya Oblast and is participating in the sales of 60% of the sites being built in those regions.

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Companies of Setl Group holding