St. Petersburg sees rising vacancy rates in street retail
08.12.2025 1256

St. Petersburg sees rising vacancy rates in street retail

Since the beginning of 2025, the vacancy rate in St. Petersburg's main retail corridors has risen to 7%, an increase of 1,4 percentage points year-on-year. The increase in vacancy rates is due to a decline in consumer activity, more selective buyer behavior, and increased business sensitivity to traffic and operating expenses, according to analysts at NF Group.

The largest increase in vacant space was recorded on the streets adjacent to Nevsky Prospekt, where the vacancy rate rose to 13-14%. Meanwhile, Nevsky Prospekt itself remains the most stable location, with a minimal vacancy rate of less than 3%.

The largest increase in vacancy rates was recorded on the streets adjacent to Nevsky Prospekt: ​​+7,4 percentage points year-on-year, reaching 13% vacant space. During the year, restaurants and bars, fashion stores, and a number of other operators closed on the Moika and Fontanka embankments, Karavannaya, Marata, and Poltavskaya Streets.

A significant increase in vacancy was also noted on Zhukovsky Street (+7,4 percentage points, up to 14%), on the 6th and 7th lines of Vasilievsky Island (+7,8 percentage points, up to 8%) and on Moskovsky Prospekt (+4,5 percentage points, up to 13%), where the dynamics were additionally determined by the renovation of two metro stations and the departure of more than 30 tenants over the year.

On Nevsky Prospekt, the share of vacant street retail space has once again set a new record, and by the end of 2025, it was only 2,9%.

On the main section of Nevsky Prospekt, less than 1% of space is vacant, and on Staro-Nevsky Prospekt, it's 8%. Vacancy rates also declined on Mayakovsky Street, Kamennoostrovsky, and Liteiny Prospekts, where vacancy rates decreased by 2-4 percentage points due to the addition of new food service establishments, stores, and entertainment options.

Marina Shumilina

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Since the beginning of 2025, the vacancy rate in St. Petersburg's main retail corridors has risen to 7%, an increase of 1,4 percentage points over the year. The increase in vacant space is due to a decline in consumer…
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