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Q1 2017 | Russia | St. Petersburg | Office Market

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New supply in Q1 2017 amounted 21,300 sq m. Sustainable demand for office real estate and the decreasing pace of completions are continuing to affect the vacancy rate, which equals to 9% market average. Over the last 12 months, the amount of vacant space in the office segment decreased by 75,000 sq m. The recovery of rental rates are continuing. The weighted average asking rental rate in Class A increased by 11%, in Class B – 7% in comparison with the Q1 2016.

Q1 2017 | Russia | St. Petersburg | Office Market

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