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Q3 2019 | Russia | St. Petersburg | Office Market

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In Q3 2019, the supply of high-quality office real estate in St. Petersburg increased by 16,500 sq m (GLA) in five business centres, which is 1.7 times lower than the volume of the new supply for the same period last year. Two of the projects completed in the last quarter are Class A, the rest are Class B.  

The average vacancy rate in Class A and B business centres over the past quarter decreased by 0.3 percentage points, to 5.1%. In square metres, 167,700 sq m remain vacant, while in Q3 2018 about 240,000 sq m were unoccupied.

 


Q3 2019 | Russia | St. Petersburg | Office Market

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