Yekaterinburg lacks large good quality offices

According to a recent real estate market research, the supply of Yekaterinburg office space market amounts to 3,000 square meters; the share of available offices comes to less than 1%, the rent is $626 per square meter a year, and profitability reaches 9.5% to 10.5% a year.

These are mainly foreign and large Russian companies that create a demand for good quality offices. In the meanwhile, there are very few available places, and it happens to be virtually impossible to rent a nice office in a building that has already been put up. Most offices are normally bought or rented as early as at the construction stage.

Smaller local companies prefer class C offices whose area varies between 50 and 150 square meters. There are nearly no nice offices that are more than 300 square meters large, even though the demand for them is quite high.

Class B offices are usually rented by locals (51%), Moscow-based enterprises (24%), foreign businesses (19%), and other Russian companies (6%).

This information was presented in a report drawn up by Cushman & Wakefield Stiles & Riabokobylko.

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