What will happen to the lease at the end of 2011?

What will happen to the lease at the end of 2011?

In this review we want to summarize the development of the property market in the first quarter of 2011. In particular, special attention will be paid to the office sector. State of the market at the end of the first quarter professionals characterized as fairly measured. The first three months 2011 were marked by the commissioning of five office buildings Class B. This fact is probably pleased the company had planned to move. Larger of the placed in service has an office center on the street Beloostrovskaya house 6. Note that the SUE "Energy of St. Petersburg" has bought half of the new 10-storey business center.

During the construction phase there are several large projects, whose total area is 200 thousand square meters. m new objects on the expectations of developers, will appear on the map of city real estate to the end 2011. This, certainly, excellent news for those who are puzzled by renting office space in St. Petersburg.

What is the demand for office premises? Demand is at a sufficiently high level. But taking into account the characteristics of high-quality necessary to make clear that he aims rooms up to 100 square meters and up to 1,000 rubles per square meter. So Makar, demand in Q1 2011 years went by reducing the area of leased premises. In the main request for the rental of office premises of St. Petersburg comes from companies who have decided to change their office concept. Transfers are made from the offices of Class C and Class B premises which are deprecated. At the same time, as previously mentioned, is to reduce the demand for leased premises — the cabinets are removed only with the expectation of satisfaction of current needs. This, in turn, could lead to a wave of recent movement in the 2nd quarter of 2011.

Rental rates for the town in the offices of Class B remained broadly measured. Elaborating on this trend, it may be noted that some office buildings reaching high occupancy characteristics, and went on increasing the amount of rental rates. The growth rates are also found in the central areas of St. Petersburg, where rent office space was always higher than the periphery. The average value of rental rates in the business centers of class A in Q1 was 1 300-1 500 rubles per square meter. Class B offices tend to lag in the price tag — it ranges from 800 to 1,000 rubles. Rent offices in St. Petersburg real estate market needs more than their purchase. Almost always, this is due to the reluctance of tenants to distract their own return and invest their money in real estate. Typically, the purchase of premises involves a loan that does not take any money the company has a reason.

Imagine what will happen to the rental of commercial real estate in the 2nd quarter 2011 and how the market is difficult. But experts believe that at the end of the year is likely surge of enthusiasm for office space and, as a result, the increase in the 2nd quarter of the value of rental rates.

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