St Petersburg is the Northern capital of Russia which is located on the Neva River at the East end of the Gulf of Finland on the Baltic Sea. This city is one of the world’s most beautiful cities and one of the most important cultural centers in Europe and is also called as “the Venice of the north “ or “Window to Europe”. St Petersburg is the second largest city in Russia with a population of 4.6 million people. This magnificent city was built on a swampland by thousands of workers with civilized European lifestyle. It is the important center of Tourism in Russia.

The good news for investors those who buy flats St. Petersburg for rental investment is the Nevsky Prospekt Street, Church of the Spilled Blood, Mikhail Palace/Russian Museum, Peter and Paul Fortress and Cathedral (city’s oldest building), Vasilyevski Island spit with the building of stock exchange, Alexander-Neva Lavra, Yusupov Palace and the Hermitage Museum (Egyptian Collections) attracts large number of visitors. One of the oldest museums of the world is the Catherine the Great which is located in St. Petersburg includes the largest collection of paintings in the world. The interesting place of Saint Petersburg is the chain of fountains in Peterhof.

St Petersburg is the major trade and finance center of Russia in oil and gas trade. The other major industries include shipbuilding, mining, manufacturing, chemicals, food processing, ferrous and nonferrous metallurgy, medical equipments, textile and apparel industries, aerospace industry and electronics. One of world’s biggest mints manufacturing Russian coins, badges and medals is the St. Petersburg Mint. The second largest Construction Industry in Russia, including commercial, housing and road construction is located in St Petersburg.

With growing interest in commerce and tourism, Saint Petersburg is quite attractive for Real Estate Property investment. The city had initiated programs to cut away the red tape that has slowed business development in the past and is attracting more foreign investment. The average house sale St Petersburg price is relatively stable with moderate increases seen in the city's historical center. Though the Real Estate Market in St Petersburg had a global downtown in the global crisis, GDP expected to grow by 3% in 2010 and the Real Estate Property Market is booming.