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Saint Petersburg Real Estate Market Overview

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The St. Petersburg real estate market has many aspects which set it apart not only from the real estate markets in other countries but also from the markets in Moscow and other Russian cities.

This section will help you orientate yourself with St. Petersburg and when used in conjunction with other sections containing price statistics and analysis, will help you to plan your real estate investment budget in St. Petersburg.

Peter and Paul fortress

The Admiralty in the beginning of XVIII c.

St. Petersburg was founded on May 16, 1703 by Tsar Peter the Great. The construction of the city started with the Peter and Paul fortress on the delta of the Neva River and continued with the Admiralty Shipyards just across the Bolshaya Neva which were used for building military ships . Not long after construction, the Tsar and the royal Court moved from Moscow to St. Petersburg and the latter, under the order of Peter the Great, became the capital of Russia.

Admiralty present day

The city was built as a bastion on the Baltic Sea, its purpose being to strengthen Russia's military (notably naval) and economic influence in the region.Besides fulfilling military and economic functions, the city was also to serve as the administrative center of the largest country of Eurasia. Construction of the capital and its ongoing development continued at a rapid pace with the involvement of the best European and Russian architects, artists and designers.

Because the city is relatively new and did not go through the Middle Ages or the Renaissance, its architecture and layout are of an artificial nature, influenced by architects' ideas, making the city quite different from the oldest Russian and European cities.

This being said, the central part of the city is still the largest historical-building district in Europe with examples of an incredible array of architectural styles of the 18th to 20th centuries.

View onto the Neva from Mytnynskaya emb. during white nights

Another important peculiarity of St. Petersburg is its location on the delta of one of the widest European rivers - the Neva (average width is between 400 and 600 meters). The city is made up of numerous large and small islands created by many canals, rivers and streams. St. Petersburg's geographical placement allows for many unique forms of architectural expression and gives residents and visitors the chance to enjoy some very interesting views, especially during the white nights period in June .

Continue reading the Architectural Development of St. Petersburg by going to the next section: