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1 Sep 2021

Global Capital Markets Insights Report

Explore our latest global real estate insights – from market dynamics during the previous quarter to asset trends, pricing movement expectations, and upcoming opportunities.
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19 Aug 2021

2021 | H1 | Russia | Saint-Petersburg | Street Retail

In H1 2021, vacancies on the central shopping streets and avenues decreased by a third compared to the year-end peak in Q4 2020 (11.5% versus 15.7%). However, the pre-crisis vacancy rate (5.6% at the end of H1 2019) has not yet been reached. The rotation rate on the main street-retail corridors amounted to 5% for the half-year and 9.85% for the year (Q2 2020 – Q2 2021). These values almost completely coincide with last year’s. Rental rates have stabilised, which is associated, first of all, with a change in exposure leading to a decrease in vacancy, with the highest quality premises with an interesting location being leased first. Therefore, the rates, which are lower relative to the start of the year, can be attributed to a decrease in the number of more expensive premises available for lease.
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