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2018 | Year-end Review | Russia | St. Petersburg | Office Market

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2018 was marked by the commissioning of the headquarters of PJSC Gazprom, an important development in St. Petersburg’s real estate. The investment has office space of 129,000 sq m in the Lakhta Center tower and the adjacent multifunctional complex and it formed the main volume of the new supply. Meanwhile, new speculative supply only amounted to about 23,000 sq m, which was a kind of anti-record for the market. The volume of vacant space in the St. Petersburg office market remains relatively small – up to 200,000 sq m distributed over more than 200 objects, which complicates the search for large office units (from 500 sq m) for rent.

2018 | Year-end Review | Russia | St. Petersburg | Office Market

Download Report