Moscow investors are beginning to invest in real estate in St. Petersburg

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Investors that have specialized exclusively on investments in real estate in Moscow, increasingly began to pay attention to St. Petersburg. Recently, the Northern capital became more profitable place to invest money – the prices are relatively low, and high rates of price growth, RBC reports.

Average cost of apartments in St. Petersburg today is 1.8-1.9 thousand dollars per square meter. The growth in house prices in the northern capital does not stop – the average rate of 10-12% per month. At the same time, the increase in housing prices in Moscow gradually reduce speed. Thus, in April, prices for Moscow real estate grew 10% in the month, now – by 4.5%, prompting Moscow investors to pay attention to the promising market of St. Petersburg.

According to analysts, the prices for Moscow real estate market came to a head – the average price per square meter in the capital in mid-August was 3.7 thousand dollars.

In these circumstances, investments in real estate in Moscow lose its appeal, while the real estate market of St. Petersburg is becoming more and more interesting for the business and for ordinary buyers.