Yekaterinburg rental rates drop 6% to 7%

1 April 2015 (17:37)

April 1, 2015. Renting an office in Yekaterinburg grew cheaper in the first quarter of the year; the market supply in the sector is also on the rise, Ural Chamber of Real Estate’s Konstantin Oktayev told UrBC.

‘18% of all Class B offices in the city are now available for tenants (up 4% on the last quarter of 2014); the same is true of 20% of Class A offices (-3%) and 12% of Class B+ ones (+1%). This increase in the market supply has to do with a lot of new office buildings that got commissioned in the first quarter of 2015,’ Oktayev explains.

The analyst says that average rental rates have been going down, dropping by 7% (1,040 RUR per m2) for Class B+ offices and by 6% to 7% (1,200 to 1,500 RUR per m2) for Class A ones. So far, prices have remained nearly the same for Class B offices (900 RUR per m2).

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