As development companies are to use escrow accounts, developers try to save as much money as possible to ensure financial safety and have an opportunity to get bank loans at better conditions in the future. That is why experts expect that developers will offer great discounts on new build housing this spring.
It is expected that approximately in April or May property buyers will get impressive discounts on new homes from development companies. And that will be probably the best time to buy an apartment in a new build housing block. According to experts, the number of discounted offers will have started to decrease by 2020.
By the end of 2018, over 2.5 million square meters had been sold in St Petersburg and 3 million square meters had been left unsold. Most of developers will try their best to sell their apartments until July 1.
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