In the third quarter of 2024 the average vacancy rate on the main retail routes has approached its all-time low for five recent years. By the end of 2024, this indicator is expected to stabilize at the level of 4.5%.
The activity of fashion retailers keeps growing – the share of clothing and footwear shops amounted to 41% of all openings at the end of Q3 2024. Mainly local brands that have been expanding more aggressively than major chain brands.
The replacement of foreign brands that exited the Russian market by new representatives of street retail has almost completed on the key retail thoroughfares of     St. Petersburg. Very few shops once in possession of foreign brands have retained their signs, albeit being closed.
The tenant mix remains stable in 2024: more than half of all premises are occupied by catering establishments and fashion retailers.