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Vacancy falls in Russian regions

Eurobuild CEE 07 March 2018

RUSSIA The vacancy in Russian regional warehouse markets fell to 6.9 pct in 2017 from 9.0 pct in 2016, according to the ‘Russia Regional Industrial Big Box’ report by CBRE.

This is the result of increased take-up which grew from 420,000 sqm in 2016 to 550,000 sqm last year, as well as decreased supply which fell from 670,000 sqm to 490,000 sqm. Annual weighted average rental rates increased slightly from RUB 5,000 to RUB 5,200 per sqm.

“In 2018, we expect the market to grow both in terms of transactions and construction. A number of large speculative development project were announced for 2018,” states the report.

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