Demand for warehouses in Russia is breaking records – Kommersant
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The volume of demand for warehouse real estate in Russia at the end of eight and a half months of 2023 has already exceeded the historical annual maximum. Member of the board of directors, director for warehouse and industrial premises of IBC Real Estate (ex.JLL) Igor Krotenkov spoke about this at the conference “Retail Day: e-com, logistics, warehouses”, organized by the Kommersant Publishing House. According to him, the amount of purchased and leased space between January and September 2023 reached 4.2 million square meters. m. Demand in developing hubs amounted to 922 thousand sq. m. m, despite the fact that previously the indicator did not exceed 400 thousand square meters. m. Demand in St. Petersburg set a historical maximum, and in Moscow the figure almost reached the annual record for 2021.
“2023 in terms of demand has already exceeded the record year 2021. At the same time, the records are not only general, but also regional: key and secondary regional hubs began to actively develop due to the fact that e-commerce is growing. Our main players, such as Wildberries, Ozon, VseInstrumenty.ru, open in all cities of presence, thereby ensuring regional demand. Demand at developing hubs is more than twice as high as in 2022,” said Mr. Krotenkov.
The expert also noted that the total quality supply on the warehouse real estate market in Russia is now about 47 million square meters. m. At the same time, Moscow accounts for about 57% of this volume, St. Petersburg – 10%.
As before wrote “Kommersant”, increased demand provided warehouse space with 1st place in price growth in the commercial real estate market. Over the past year, the cost of such objects has increased on average by 67%, while retail space has risen in price by 9%, and offices have fallen in price by 6%. Experts are confident that the trend will continue due to the increasing shortage in the warehouse market, rising rental rates and construction costs.
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