May Sochi Rental Summary

The residential rental market in Sochi's Adler District (home to the Olympic Park) continues to tighten.  We are working with several companies renting apartments and are seeing a rapid absorption of available capacity and rising prices in the few newer buildings in Adler's center that conform to western standards.  A one room apartment with western standards will cost from 40,000- 50,000 rubles per month (about $1,330 to $1,660).  A two room apartment will cost from about 65,000 rubles to 80,000 rubles a month (app. $2,160- $2,660).  A larger apartment with three rooms, runs from 90,000- 120,000 + rubles each month (app.$3,000- $4,000).   Utilities will vary according to size and location.  Bear in mind, that Russian apartments consider rooms, rather than bedrooms, the standard.  A room is anything other than a kitchen, bathroom, corridor or balcony (living rooms frequently double as bedrooms). 

Adler Rental

Central Sochi, regarded as a more desirable location because of its physical beauty, shopping, restaurants and a larger number of western-style apartments, is now somewhat less expensive than central Adler District.  The distance between Adler (and the Olympic Park) and central Sochi is only about 25 kilometers, but the commute can be long.  Nonetheless, for those who work in the center or with flexible schedules, Sochi is becoming an increasingly attractive opportunity because the ruble goes further.

Sochi Rental

One room apartments with western standards in the pedestrian center of Sochi will run from 35,000- 60,000 rubles per month (app. $1,160- $2,000).  Two room apartments cost 40.000 to 60,000 rubles each month (app. $1,330. $2,000).  An apartment with three rooms  (85 - 100 square meters) will run from 70,000 to 100,000 rubles monthly (app. $2,330- $3,330) and up to 120,000 (app. $4,000) for the best and largest apartments on the best streets.  There are large, two-floor penthouses with spectacular views available at monthly rentals of 125,000 to 300,000 + rubles (app. $4,160- $10,000).

Penthouse View

Office space in Adler runs about 1,200- 1,500 rubles per square meter per month ($3.68 to $4.60 per square foot per month).  Central Sochi offices also typically costs from 1,200 to 1,500 rubles per square meter per month.  A new mixed-use building in the center with sweeping views of the city offers offices from as small as 18 square meters to a larger suite of about 220 square meters at 1,300 rubles per square meter per month ($3.99 per square foot per month). The new Class "A" building (shown below) near the Sochi City Administration has offices ranging from 2,500 rubles to 5,000 rubles per square meter per month ($7.68 to $15.35 per square foot per month).

Please contact me directly for workforce accommodations, office rentals and all desination management needs, including transport, documentation, communication and event management: bruce@destinationsochi.com

New Office Building

Office Space- January 2012

Office prices in Sochi and Adler seem to be holding steady, with a few premium listings commanding higher prices.  Most offices in Adler run in the 500-800 rubles per square meter ($1.50 -$2.50 square foot), although a two-story office in central Adler with 1,800 square meters (about 19,400 square feet) is listed at 1,500 rubles per square meter (about $4.50 per square foot).  Sochi prices in the center start at about 800 rubles per square meter ($2.50 per square foot), with several offices on the centrally-located, but traffic-prone, Vinogradnaya Ulitsa.  Ulitsa Roz (very center of Sochi) has an office listed at 1,125 rubles per square meter for 40 square meters (about $3.40 per square foot for about 430 square feet).  One larger office on Voikova Ulitsa is listed at 202,000 rubles for 135 square meters.  That is a price of about $6,500 per month for a total of 1,452 square feet or about $4.50 per square foot.  A 250 square meter office with parking and ideally located near the Sochi City Administration, Melodiya Shopping Center and seaport, is renting at 3,000 rubles per square meter.  That is a total price of about $24,000 per month for 2,700 square feet, which correlates to a per square foot price of $9.00.  This is high for Sochi, but the location, parking availability and size of the space are unusual.  

Office Rental in Sochi

Several outside organizations have been inquiring about office space for rent in Sochi.  I viewed an office on the 4th floor of a building on Kurortniy Prospekt, across the street from the Moskva Hotel (to be rebuilt with the Marriott flag).  This office was 60 square meters and was available at a price of 1,500 rubles per square meter per month.  This contrasted with prices from 800- 1,000 rubles per square meter per month on Vinogradnaya and Gagarina Streets.  Another office was rented in another centrally located hotel for 1,800 rubles per square meter per month.  

A very attractive office consisting of two floors and 1,350 square meters is for rent at 822 rubles per square meter.  The price is more reasonable, but the space is quite large compared to most offices.  The office is in the same complex as Aleksandr's Lighthouse and below the Lighthouse Restaurant.  The location is very good and the office has excellent view of the Black Sea.

 View from office

Office