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Q1 2018 | Russia | St. Petersburg | Office Market

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In the ten-year history of the market, the upcoming year will be the first in which construction for companies’ own needs will prevail. Net absorption in Q1 2018 was 21,000 sq m, which includes new spaces commissioned during the first three months of the year and occupied fully for companies’ own needs (40% in the quarter’s volume figure). The low level of absorption in the speculative segment was due not only to the lack of interest from tenants but also because of the narrowing market of quality A and B Class office buildings.

Q1 2018 | Russia | St. Petersburg | Office Market

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