The International Property Show in St. Petersburg
Event date: March 30—31, 2012
Venue: Russia, St. Petersburg, Vasilevsky ostrov, Bolshoy prospekt, 103, “Lenexpo”, pavilion 4
Forthcoming Spring in St. Petersburg traditionally will be marked with the International Property Show. New business connections, study of the market, the possibility of arranging of deals— all these factors attract both potential clients interested in buying international properties and professionals involved in real estate business from all over the world.
It’s expected that there will be more than 160 participants in the Show, among them will be real estate agencies, developers and consulting companies. Such a keen interest to St. Petersburg can be easily explained. The first reason is that Petersburg is the second largest market in Russia.
According to the statistic, 40% of all bargains with the international property in Russia are made by residents of St. Petersburg and Leningrad region. The second reason is in changing of the quality of demand. Whereas just a few years ago the visitors used to come to the Show just to study the offers, today they come with the precise aim to invest their money. They know the market and know what kind of property they are interested in, are competent in bargains conditions and, often, even in juridical side of deals.
The another important advantage of the Russian market in whole is the readiness and the potential to invest so called live money instead of loan capital, and the number of deals with mortgages in Russia drops every year.
As the experts say, to a large extent the increasing in demand for International property was provoked by the global financial crisis. Today, when the drop in stock market indices almost stops, and property prices are still close to the low crisis level, the professionals of real estate observe big interest to the very different types of properties for the purpose of investing money.
Regarding the geographical preferences there’s another one intriguing tendency. Together with the destinations of the traditional interest which for St. Petersburg are Spain, Bulgaria and Finland, the potential buyers pay attention to the USA, Canada and the Dominican Republic as well.
The exhibitors from these countries which took part in the last International Property Show in St. Petersburg mentioned positively high interest to their offers, and some stands were always busy with the visitors who desired to know more about both the destination and the conditions for buying a property there. According to the experience of some participants this interest soon will transform into the specific demand, — that’s a feature of St. Petersburg clients who prefer beforehand to analyze as much information as possible before claiming the readiness to make a bargain.
In general, there’s an obvious evolution of demand for International property in St. Petersburg, and the market can be characterized as very flexible which is rather far from the stagnation. That’s why the next International Property Show will be not only the successful business event which it has been for the last years but an opportunity for participants and visitors to form St. Petersburg international property market.