In St. Petersburg, the volume of rental transactions in the office real estate market by the end of 2023 may decrease by 35% compared to 2022, Interfax writes, citing a study by the consulting company NF Group.
According to the company, the downward trend “is supported by low vacancy and the fact that the remaining space after the departure of international companies has already been rented.” As analysts note, “in the current conditions, rates are not significantly adjusted, and discounts are minimal.” However, next year, according to the forecast, “as liquid supply is washed out from the market,” the rental rate in class “A” offices will increase from 2.2 thousand to 2.3 thousand rubles per sq. m. m per month, including VAT and operating expenses. In class “B” the growth will not be so significant – from 1.5 thousand to 1.55 thousand rubles per sq. m. m. per month, experts say.
According to the study, the main share of demand was formed by companies from the IT sector (50% of rented premises). Demand from local players was focused on new class “B” offices, and from international players – on class “A” offices.
In total, by the end of 2023, the volume of office commissioning in St. Petersburg is expected to be 135 thousand square meters. meters, which is 17% less than in the previous year.
Source: Rosbalt
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