Ural Chamber of Real Estate: Yekaterinburg has more available office space

17 February 2015 (10:04)

February 17, 2015. The deteriorating economic circumstances have resulted in considerably more office space available for rent in Yekaterinburg. The share of Class A offices to let rose to 23% in the last quarter of 2014, that of Class B+ offices went up from 2% to 11%. The share of vacant Class C offices kept shrinking between December 2013 and September 2014 but increased to 14% in the fourth quarter of the year, Ural Chamber of Real Estate reports.

Around 15% of good quality offices are available for rent in Yekaterinburg at the moment and are advertised on the estate market. Experts observe this increase stems from dropping demand as well as new office buildings that enter the market.

Eleven new business centers were opened in Yekaterinburg last year: Aston, Arena, Veck, Green Park, K5, Tchaikovsky, two sections of Clever Park, and office buildings at 26A Montazhnikov St, 18B Rodonitovaya St, and 12A Dobrolyubov St.

All in all, 68,000 m2 worth of new office space got added to the market.

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