Skip to main content Skip to footer

H1 2018 | Russia | St. Petersburg | Office Market

Download Report
The first half of 2018, for the first time in the ten years of the office development market, saw no speculative construction as well as minimal commissioning of offices for companies’ own needs. Q1 2018, the office stock of non-speculative supply (9 200 sq m) consolidated as a result of the first half of the year: during Q2 the number of qualitive business centres did not increase at all. Net absorption during the first half year of 2018 was 42 500 sq m, which remains stable year on year. The volume of deals during H1 2018 is similar to the results of 2013, when speculative development reached a peak and vacancy remained at a level of 12%. The active expansion of the IT cluster in office market this year resulted in new demand trends,including demand for large areas. A year ago, according to results for the first half year, request for large areas up to 500 sq m were predominant.

H1 2018 | Russia | St. Petersburg | Office Market

Download Report