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Affordable ordinary elite apartments.

In our last publications about mysteries of the “Golden triangle” (an area bounded by Nevsky prospect and the Fontanka and Neva rivers embankments) we told about the most expensive (up to several million dollars) apartments in the city. Today we are going to discuss more affordable ordinary elite apartments. Director of NEVSKY PROSTOR AGENCY Alexander Ginovker, a vice-president of Real Estate Association of Saint-Petersburg, will tell us how to gain an understanding of different kinds of elite apartments.

-          Let’s begin from the very beginning. What does “an ordinary elite apartment”  mean? And how much is it?

-          Instead of “ordinary” I would call such apartments “common” elite, because despite their “simplicity” they are real elite ones. The most important is that they should be located in the “Golden triangle” area. Their price is 4-5 thousand dollars per square meter.

-          Mm-m,  common apartments at the price five times more than an ordinary dwelling?

-          It is not  a “dwelling” after all. For example, compare the so called elite property in Moscovsky prospect and  in the “Golden triangle”. In Moscovsky prospect it is a dwelling indeed. Of course, apartments there might be very comfortable due to their owner’s efforts. But they are located in the ordinary “stalinsky” buildings which are not interesting either from an architectural or historical point of view. I do not intend to offend the citizents of Moskovsky district, but their district is not Petersburg. The similar prospects  can be seen in MoscowKiev and many other Russian cities. 
However, in the “Golden triangle” each building is a monument. It is not for nothing that the center of the city is listed in UNESKO as a historical monument. Moreover, this area keeps the  Petersburg aura. It is the very place where lived the members of noble Russian families. That is why the “Golden triangle” ranks so high in the city’s surroundings. Its aura attracts people who are aware and  fond of art.  And they are ready to pay fivefold price for such “dwelling”.

-          The buyers of such apartments are real connoisseurs of art, aren’t they?

-          Certainly! And it is not bad at all. It is the people living in a building or district who create its image nowadays. Take a walk along any street in the “Golden triangle” and then visit a famous “drunken corner” in Nevsky district just to compare your impressions. Where would you prefer to live? Where would you children feel better? 
However, the buyers of such apartments are keen not only on the beauty but on financial matters as well. Here is a single example. During the last three years “elite” apartments in Moscovsky district have risen in price equally with other ones. Say, 3 years ago a 3-room apartment on Moscovsky cost 200 thousand dollars, and now it costs 300 thousand dollars. But 200-thousand-apartment (three years ago) on Moika costs not less than 500-600 thousand dollars now. And it is far from the final price. The matter is that the “Golden triangle” is not elastic. Demand always outdistances supply there. Step by step, apartments find their permanent owners and I think that in a few years it will be nearly impossible to find any property for sale in this area. So I will not be amazed that the very apartment which cost 200 thousand 3 years ago and 600 thousand now in 2-3- years will cost more than one million dollars.

-          Let’s return to the “Golden triangle”. In your opinion, what places are of the greatest interest there?

-          It is not so easy to mark within a special place  more “special” ones. Tastes differ. Some people prefer Malaya Konyushennaya street, which is so close to Nevsky prospect, with its pedestrian zone. Others admire Fontanka views. The only place which is undoubtedly the heart of this splendid area is the middle of the “Golden triangle” - the Moika river. 
On the one side, it is quiet and homely. On the other side, the main attractions and amenities of the historical ceter are nearby. Dvortsovaya square, the Neva river, Nevsky prospect, Marsovo Field and the Church-on-the-Spilled Blood are within walking distance from the Moika river.

-          And what apartments can you find there?

-          Once again it depends on your preferences. If you wish to feel the pulse of life, choose an apartment close to Nevsky prospect. If you wish to stay on a “quiet Moika”, you should buy an apartment at the very beginning of the Moika embankment close to the Marsovo Field. As for the apartment quality, it is possible to find a nice renovated apartment at the price of 4-5 thousand dollars per square meter with the only drawback: no Moika view. Dear buyers, make your choice!

Source "Saint-Petersburg Vedomosti"          

28 February 2006           

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