H1 results: coworkings of St.Petersburg are stable

Offer

According to Maris analysts, as at the end of 2021, 80 coworking-centers operate in St. Petersburg in the format of offices and business incubators. Majority of serviced offices are located in the central district of the city - 51% of the gross volume. Leaders are still the same: Central districts – 29%, Petrogradsky district – 10%, and Admiralteysky district – 8%. We have seen a gradual process of decentralizing the offer.

In Q2 2022 the market of flexible office spaces has been replenished with eight objects with total capacity of more than 730 working places. The opening of the coworking Town Hall Page (151 workplaces) and the coworking SMART in the Vyborgsky district (at least 120 workplaces) took place. The first space is also part of the SMART managing company Areopag coworking network, which is open under a franchise.

So, gross supply of workplaces in flexible offices in St. Petersburg has increased by 21.3% 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 H1 2021 requested rental rates were distinguished by multidirectional. Short-term rates demonstrated the trend of growth, while long-term rental rates (month) showed stagnation or a slight negative correction, depending on the type of rented workplace.

So, the cost of renting a fixed workplace in June ranged from RUB 5,300. Average tariff – RUB 13,000 per month. (+0.2% to Q4 2021). Flexible place was: RUB 3,900 – 26,000 per month, average tariff – 11,000 per month. (–3.7% to Q4 2021). Daily tariff of workplace rental at the end of Q1 was from RUB 500 to 1,600 per day (+2.1% to Q4 2021). 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 10 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 2,900 places, provided that the relatively stable economic situation is maintained.