01
02
03
04
05
06
05 February
2024 Sochi Market Development Prospects
Commercial Director of FIVE Elena Kabesheva spoke at the RBC South round table dedicated to key trends in the construction industry. Elena spoke about the resort real estate market in Sochi, the factors influencing its development, as well as the 2024 development prospects.
Important trends include an increase in the supply of fitted out units, the use of eco-technologies in property development projects, an emphasis on wellness and vitality, and stabilisation of lot area by class.
— Just like last year, Sochi will be developing as a center for business and health tourism; demand for corporate rentals and projects with serviced apartments is expected to increase. Changes in the key rate and the tightening of the preferential mortgage loan terms did not have a significant impact on premium resort real estate, since it is least susceptible to market fluctuations, said Elena Kabesheva.
According to the expert, by the end of 2023, it was possible to stabilise the demand for business-class real estate, as well as satisfy the growing consumer interest in premium serviced apartments.
