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Investments in the Russian commercial real estate market could reach $6.5 billion by the end of the year, according to data published by consulting company Knight Frank. Although that figure is less than that seen in 2011, experts note that the market's dynamic is positive in comparison with previous years.

The St. Petersburg office real estate sector has become more "civilized," according to analysts from consulting companies. The city is attracting more and more large international and Russian tenants who wish to have an office here.

The Mezhdunarodny shopping center opened in the city's Frunzensky district Friday, continuing the trend of opening retail and entertainment complexes in the same buildings as new metro stations.

The annual St. Petersburg International Economic Forum (SPIEF) brings with it a 20-percent increase in St. Petersburg hotel room rates. As a result, say analysts, the city loses tourists and gains the reputation of a city that is extremely expensive to visit.

The general volume of investment in commercial real estate in Russia will total $6.5 billion in 2012, according to a forecast from Jones Lang LaSalle commercial real estate company. The majority of investments in the first quarter of 2012 were split between the office and retail sectors at 40 and 34 percent respectively.

Studios and small one-room apartments are the most in demand on the St. Petersburg residential real estate market.

Retail Leads Commercial Real Estate Sector in City

Intense competition on the city’s hotel real estate market promises to bring about improvement in quality levels this year. Experts from Knight Frank St. Petersburg, however, predict that profit indexes will not increase much.

Intense competition on the city’s hotel real estate market promises to bring about improvement in quality levels this year. Experts from Knight Frank St. Petersburg, however, predict that profit indexes will not increase much.

St. Petersburg was the “breakthrough of the year” on the world’s commercial real estate market last year, as the investment volume here increased almost 10 times and reached $2.1 billion.