Volume of offer of coworking spaces has increased by 30% for 9 months
Offer
According to Maris analysts 87 coworking centers operate in St. Petersburg in the format of offices and business incubators as at the end of Q3 2022. Majority of serviced offices are located in the central district of the city - 52% of the gross volume. Leaders are still the same: Central districts – 28%, Petrogradsky district – 9%, and Admiralteysky district – 9%. We have seen a gradual process of decentralizing the offer.
The market of flexible office spaces has been replenished with eight objects with total capacity of more than 740 working places in Q3 2022, that is comparable to the volume of market growth in Q2 2022. The opening of the LIIS-PAGE coworking (357 working places) and the SMART coworking in Vasileostrovsky district (280 working places) took place.
So, gross supply of workplaces in flexible offices in St. Petersburg has increased by 30 % since the beginning of the year.
Rental Rates
Rental rates in serviced offices is settled depending on the period and type of placement. According to experts of Maris the results of first 9 months requested rental rates were multidirectional. Short-term rates demonstrated the trend of growth (+3%–5%), while long-term rental rates (per month) showed stagnation or a slight negative correction, depending on the type of rented workplace.
The cost of renting a fixed workplace in September ranged from RUB 6,500 to RUB 34,000 per month. Average tariff – RUB 13,600 per month: flexible place: RUB 4,900 – 26,000 per month, average tariff – 10,800 per month (–6.6% to Q4 2021). Daily tariff of workplace was from RUB 500 to 1,600 per day (+2.7% to Q4 2021) at the end of Q3. Growth of the offer of serviced offices by subscription system (the number of visits for a certain period of time) continued on the market.
According to Maris consultants the opening of 4 new coworking spaces and the expansion of 1 existing KAZANSKAYA PAGE coworking have been announced by the end of the year. In total the volume of the offer will increase by 1,150 places, provided that the relatively stable economic situation is maintained.