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Russia MarketBeat

Tatyana Divina • 03/07/2020
Cushman & Wakefield MarketBeat reports analyse quarterly Russia commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.

Office

In Q2 2020 take-up decreased by 29% compared to Q2 2019 and amounted to 345,705 sq. m. The indicator’s decrease is a result of business activity slowdown and costs optimization. A gradual recovery of the market will take place in Q3-4 2020 after the lockdown completion and restrictions elimination in June.

Retail

The consumer market sector is one of the most affected by the COVID-19 crisis. It was under pressure long before the pandemic and this year it will increase the decline. According to the official forecast, retail sales and real disposable income will be in the negative zone in 2020 (-5.2% and -3.8%, respectively). Despite the significant growth in 2021 (+4%), the market will be back to the level of 2019 and only show real growth in 2022.

Industrial

Due to the lockdown in Q2 2020 construction activity in the Moscow region slowed down. However, we expect new construction activity  to recover in Q3-Q4 2020. According to our forecast additionally about 430,000 sq. m will be delivered to the market by the end of the year. Despite the economic uncertainty we expect that about 52% of all new projects of 2020 will be speculative. Lack of quality space in Moscow region is still noticeable even in the period of the economic recession.

Get the full Russia property market picture with all the market data by downloading the reports.

Current Marketbeats

Moscow skyscrapers
Russia Office Data

Office Marketbeat is a summary of the Russia office property sector providing comment on recent trends as well as market data and analysis.

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Moscow escalators modern building
Russia Retail Data

Retail Marketbeat is a summary of the Russia retail property sector providing comment on recent trends as well as market data and analysis.

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steelworks, Russia
Russia Industrial Data

Industrial Marketbeat is a summary of the Russia industrial property sector providing comment on recent trends as well as market data and analysis.

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