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2020 | Russia | Saint-Petersburg | Street Retail

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At the end of 2020, the vacancy rate on the key retail corridors reached 15.7% its maximum over the past five years, an increase of 7.5 p. p. over the year. The sharpest growth occurred in the Q2 when the vacancy rate increased by 5.9 p. p. and reached 12.9%. During this period, there was a lockdown. Only stores selling essential goods, groceries and pharmacies were operating. Over the next two quarters, the amount of vacant space increased more moderately.

The dramatic decrease in tourist flow, business activity and the operation of catering enterprises, as well as periods of isolation influenced the growth in the number of vacant premises.


2020 | Russia | Saint-Petersburg | Street Retail

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