The basic reasons for the increase in demand for new buildings in St. Petersburg

A study conducted by the Department of analysts' NDV St. Petersburg ", showed that the increase in demand for new buildings of St. Petersburg from the population due to several factors, some of which are largely psychological. The study, conducted in January of this year, buyers of apartments the company LEK found that the decision about buying a home in the buildings under construction are five main factors of influence. 1) Market Share of new buildings at facilities in populated areas and comprehensive development of territories (CAT). The main trend of the last time - lack of land for housing in the developed areas of the city. This forces developers to refocus their development on the border of St. Petersburg, carrying out comprehensive development of territories. It is obvious that in the near future we will see supply shortage in the newly settled regions, especially in subway stations. This trend has pushed many consumers to purchase apartments in residential complexes in the city, in areas with developed infrastructure, while the prices are kept at acceptable levels. An additional incentive is the recent announcement by the Mayor of Moscow on the possible restriction of building within the Third Ring Road - buyers of apartments in St. Petersburg suggest that such a restriction may be imposed in some areas of the northern capital. 2) Reduction in mortgage interest rates. Despite the fact that the volume of lending to new buildings is not only seeks to pre-crisis levels, mortgage rates are minimal in the history of modern Russia - by 9.5% in rubles. In addition to increasing the volume of loans and sales of apartments, respectively, the interest rate has for many buyers of housing under construction is also a psychological effect, as the signals of overcoming the crisis. 3) Overcoming the effects of the crisis in the construction industry. Since the beginning of 2011 left the last doubts as to the construction companies. Developers almost completely returned to pre-crisis rates of construction, start new projects, plan to issue commercial papers. Background information was generally favorable, which adds confidence to buyers of new buildings and increases sales. 4) Return of investment appeal of apartments in buildings under construction. Despite the pessimism of some analysts on the attractiveness of new buildings as an investment tool, the practice proves otherwise. On raising the price from the beginning of the year announced a 73% construction companies involved in the construction in St. Petersburg. The average increase was 7.7%, but some developers it reached 18.5%. If the above correction cost per square meter was due largely increased facilities construction readiness, but now it is caused by leaching of liquid apartments in successful residential complexes. Respectively, and increased share of investment buyers today among the company's customers are 14%. 5) The aging housing stock. Every year in St. Petersburg more and more difficult to find an apartment in the secondary market that meets modern requirements of customers. The process of aging buildings is irreversible, and in St. Petersburg, he aggravated the characteristic dilapidated stock. And this process can not be compensated by carrying out major repairs or renovations Khrushchev. Therefore, the demand is increasingly shifting towards new homes, especially since the developers have more flexibility than the owners of apartments, to respond to demand through marketing tools, such as discounts, finishing as a gift, etc. Conclusions To date, among the reasons for the increase in demand there are factors that moved the market up before the crisis - the lack of liquidity of apartments with a simultaneous increase in prices of real estate developers, the growth of the mortgage, etc. However, while all of these factors tend to only scale of 2007-2008. Interestingly, a number of reasons that is psychological in nature and much of the potential buyers put off (a part of and continues to delay) the acquisition of property to a certain point (for example, has not yet stabilized the construction industry until prices went up, etc.). As expected in the near future the emergence of new events that will encourage people to buy (a further rise in prices, supply shortage in the developed areas), the growth in demand for new buildings of St. Petersburg will continue.