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Living the Dream: Luxury Real Estate

Published: June 29, 2014 (Issue # 1817)



  • The interiors of the Castel di Notte are just as impressive as the vineyards surrounding the estate, but such extravagance comes at a price.
    Photo: Advecs / For SPT

The tallest tower in Monaco, a medieval castle in Tuscany or a mansion with a magnificent view of Palace Square in St. Petersburg for many years such homes seemed little more than an unobtainable fantasy for many Russians. Today, however, dreams such as these really can come true with the only question being how much money people are ready to pay for the luxury of living like a king.

While the current economic instability has caused a slight decrease in the number of customers interested in buying pricey, unusual buildings, the luxury residential real estate market still has plenty of opportunities to satisfy the most demanding tastes. The most expensive residential real estate in St. Petersburg falls within the socalled Golden Triangle, the area bounded by the Admiralteyskaya and Dvortsovaya Embankments, the Fontanka river and Ulitsa Gorokhovaya. Residential property accounts for just over half of all the property located in this area, with restaurants, offices and shops occupying the rest.

The list of St. Petersburgs most expensive districts also includes Krestovsky and Kamenny Islands, and the area surrounding Tavrichesky Palace, according to Penny Lane Realty.

We have seven listings in St. Petersburg priced at $10 million or higher, said Pavel Pikalev, head of Penny Lane Realty in St. Petersburg, speaking to The St. Petersburg Times. These are either renovated, furnished apartments or places like a reconstructed four-story mansion on the Moika Embankment with a view of Palace Square and the Hermitage.

There are also plenty of listings in nearby suburbs, mostly in the Kurortny district. Prices there depend on how far the property is from the Gulf of Finland, the size of the land plot and its landscaping, he said.

However, despite the large number of high-end properties on the market that are located close to the city center, it is not enough to entice some Russian buyers. Instead these buyers are beginning to look across to foreign shores for property purchases where entire islands, such as Wadigi in the Fiji Archipelago, can be bought. Occupying eight hectares, an island such as this is only 50 minutes by boat from the mainland.

On one hand, it is an ideal place for solitude, where a public figure can hide from unwanted attention, said Alexander Romanenko, president of Advecs Real Estate, speaking to The St. Petersburg Times. On the other hand, it is also a developed and successful business, which includes a five-star villa with three bedrooms and everything necessary for stand-alone accommodation.

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ALL ABOUT TOWN

Wednesday, Oct. 1


The St. Petersburg International Innovation Forum 2014 kicks off today at Lenexpo, where it will be presenting the latest and greatest ideas until Oct. 3. Focusing on economic development and the decisions and measures necessary to encourage development in Russias most important industries, the event is a possibility to discuss the innovations currently available in a variety of fields.


Representatives of the Russian and international media industries arrive in St. Petersburg for the first ever International Media Forum being hosted by the city until Oct. 10. With a variety of events on tap, including workshops, lectures and film screenings, the event plans to reemphasize the citys reputation as the countrys culture capital and as an emerging market and location for the visual arts.



Thursday, Oct. 2


The celebration of the bicentennial of the birth of Mikhail Lermontov continues with todays free exhibition in the citys Lermontov Library at 19 Liteiny Prospekt. Titled Under the Rustling Wings, the temporary exhibition will feature the costumes and scenery used in the 1917 production of Lermontovs play The Masquerade, which he wrote in 1835 when he was only 21 years old.



Friday, Oct. 3


Learn more about how to manage and evaluate employee performance during SPIBAs Human Resources Committee meeting this morning on Employee Assessment: Global and Local Trends. Starting at 9:30 a.m., the discussion will touch on such topics as the partnership between HR and business, reliable assessment strategies and more, with Tatiana Andrianova, the head of the SHL Russia and CIS branch in St. Petersburg, as the featured guest. Confirm your participation by Oct. 2 by emailing office@spiba.ru or calling 325 9091.


AmChams Procurement Committee Meeting is at 9 a.m. this morning in their office in the New St. Isaac Office Center on Ulitsa Yakubovicha.



Saturday, Oct. 4


Wine and cheese lovers will get their chance to revel during Scandinavia Country Club and Spas Wine Market Weekend. Going on today and tomorrow, wining diners can listen to live music, take part in culinary classes and, of course, sample a variety of fine wines from around the world. The cost of admission is 400 rubles ($10.30) for adults and 200 rubles ($5.15) for children.



Sunday, Oct. 5


Look for the latest fall fashions at the Autumn Market today in Freedom Anticafe at 7 Kazanskaya Ulitsa. The minimarket plans to offer clothes more flattering than the puffy jackets that are a staple of the citys cold-weather fashion, while offering the same amount of protection from the biting winds blowing off of the Baltic.



Monday, Oct. 6


SKA St. Petersburg, the citys KHL affiliate, welcomes Slovakian club HC Slovan in a match-up tonight at the Ice Palace near the Prospekt Bolshevikov metro station. The puck drops at 7:30 p.m. and tickets can be purchased on the clubs website or in person at either the arenas box office or the clubs merchandise store on Nevsky Prospekt.



Tuesday, Oct. 7


Learn more about Russias energy industry at the St. Petersburg Energy Forum that begins today and runs through Oct. 10. Attracting industry experts and political and business representatives, the forum plans to welcome more than 350 plus companies and their representatives to discuss the future of Russias largest economic sector.



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