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CORE.XP: Class A warehouse rents in St Petersburg fall 3.8% in six months
At the end of Q3 2026, the weighted average base rent for Class A warehouses in St Petersburg was RUB 9,680 per sq m per year, 3.8% below the Q1 2026 level.
According to CORE.XP data, the weighted average base rent for Class A warehouse space in St Petersburg reached RUB 9,680 per sq m per year at the end of Q3 2026. The rate declined 1.8% quarter on quarter and 3.8% compared with Q1 2026.
Rents have fallen for a second consecutive quarter. CORE.XP cited RUB 9,898 in Q3 2025, RUB 9,975 in Q4 2025, RUB 10,062 in Q1 2026, RUB 9,857 in Q2 2026 and RUB 9,680 in Q3 2026. Over six months, the rent fell by RUB 382 per sq m per year; the year-on-year decline was 2.2%.
Vacancy in Class A dry-temperature warehouses remains low at 1.6% excluding sublease and 1.9% including it. According to CORE.XP, the market is seeing both a second consecutive quarterly decline in rents and low vacancy. The weighted average rate is now below the Q3 2025 level.
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