CBRE: St Petersburg prime office rents down 48.6% over year to 1Q15.

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According to CBRE’s EMEA Rents and Yields Marketview, prime office rents in St Petersburg were USD411 per square metre per annum in 1Q15, or 48.6% less relative to 1Q14. Rents  are at the lowest levels since the 2008/09 global financial crisis.  Prime office yields are 12.25%, down 475 basis points from their highest levels since the crisis.

Source : May 2015/CBRE/St Petersburg/OFF