Especially when it comes to large-scale and long-term projects. Also declined significantly and the volume of residential development. Thus, in St. Petersburg was "frozen" for about 85% of housing under construction. First of all, it's expensive homes with premium: a reduction of personal income and the tightening of mortgage lending does not contribute to market growth luxury real estate. Respectively, and participated in its construction of a highly profitable business can turn into a long-term burden. In contrast, budget accommodation continues to be in demand.
If the expensive penthouses in difficult times, many people prefer to give up, the flat panel in high-rise buildings – is more essential items. In addition, demand for them is supported and due to the outflow of buyers from the market of elite Real Estate. According to experts, now is the correction in housing prices: buyers are slowly returning to the market in search of lucrative offers. Therefore, the best chance of success with those developers who adopted these rules. "From the mass market there is a real demand for affordable housing, – said Konstantin Kovalyov, managing partner of consulting firm Blackwood, working in real estate. – Some construction projects of business class can become viable only if you change their class to the economic. " A significant portion of the market is now the municipal building. We are talking about programs aimed at improved housing low-income families and a waiting list, as well as the resettlement of the inhabitants of dilapidated housing. Obviously, these projects will be developed further, despite all the economic turmoil.