What real estate is in demand in Murmansk

Murmansk is the largest city in the world outside the northern polar circle. Its port, representing one of the largest ports of the Russian Federation that is not prone to freezing, has 3 types of terminals: passenger, trade and fish. For several years now, this city has been a special economic zone with manufacturing and developed tourism market. In connection with these factors, investment investments in this region have significantly increased, which in turn influenced the functioning of the real estate market in Murmansk. The number of people who want to buy an apartment in this city has increased significantly. Murmansk real estate is characterized by some specificity. Since the commercial segment is extremely developed here, the construction of residential facilities develops quite slowly. In Murmansk, it is impossible to find a building with a height of more than 16 floors, which is explained by the climatic features of this region. The main part of the development is Khrushchevs, panel buildings with nine floors and Stalin. The market of real estate is not particularly active. Over the past few years, the construction of no more than 100,000 square meters of residential real estate has been implemented here. The main causes of this phenomenon are: 1) outflow of the population; 2) harsh climatic conditions; 3) engineering difficulties in development. The volume of new construction in most cases is provided by federal and regional programs. Thus, due to various programs supporting the development of housing construction, about 20,000 square meters of residential real estate in the Murmansk region are rented every year. The construction of social buildings is carried out. To facilitate the problem of buying an apartment, the cost of which is quite high, housing for young families is made at the expense of federal subsidies. With their help, 30% of the cost of the apartment may be paid. Commercial real estate in Murmansk is subjected to more active development than residential facilities. In recent years, out of all areas put into operation, two thirds are falling on commercial real estate. For a long time, the region has been trying to create a powerful transport and trading infrastructure due to the growth of cargo turnover of the shopping port, as well as an increase in the number of warehouses and logistics centers. In addition, the number of retail space rises in Murmansk every year in Murmansk.