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In St. Petersburg, rental rates may return
29.04.2016 3726

In St. Petersburg, rental rates may return

The highest-quality shopping centers in St. Petersburg, which remain the “entry points” for brands to the market or are of interest for further development, feel increased demand from tenants. According to the forecasts of Colliers International experts, by the end of the 2016 year in such shopping centers rental rates will return to the ruble pre-crisis equivalent.

Currently, the retail real estate market of St. Petersburg is experiencing the second recession in the launch of new projects since 2009. For the I quarter of 2016, the volume of space in high-quality shopping centers has not changed and is currently 2,69 million square meters. m   

The lack of new projects, the decline in retail sales and the negative dynamics of purchasing power have become incentives for increasing rotation in high-quality shopping centers. Currently, rotation in such projects varies from 10 to 25% and occurs both due to the closure of stores and the arrival of new tenants, as well as due to the change of premises by operators within the same shopping center.

Striving to be closer to the buyer, retailers optimize their presence in shopping centers, giving preference to the highest quality projects and areas with the highest traffic.

The highest quality shopping centers in St. Petersburg, which remain the “entry points” for brands to enter the market or are of interest for further development, feel increased demand from the ...
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