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2019 | H1 | Russia | St. Petersburg | Office Market

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In H1 2019 three class B office facilities with a total office area of 22,600 sq m (GLA) were commissioned in St. Petersburg, pushing the total supply of quality office space to 3.26 million sq m. The lack of quality supply, coupled with the shortage of new class A facilities, caused an increase in rental rates: in H1 2019, the weighted average rate in Class A business centres amounted to 1,601 RUB/sq m/month (including operating expenses, not including VAT), an increase over the past 12 months by 9.4%. In class B the weighted average rate over the past 12 months increased by 3.6%, reached 1,063 RUB/sq m/month.


2019 | H1 | Russia | St. Petersburg | Office Market

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