Demand for warehouses in the Russian Federation at the end of the year will exceed the historical maximum – Kommersant

The volume of transactions with warehouse real estate in Russia by the end of 2023 may reach 6 million square meters. m, which will more than double the results of 2022 and become the maximum value in the entire history of the market. Anton Alyabyev, senior director, head of the warehouse and industrial real estate department at CORE.XP, spoke about this at the conference “Results of the year. Commercial real estate”, organized by Kommersant. According to him, about half of the transactions occur in Moscow.

“The previous record was in 2021 and we all thought we would never beat it. The figure then was 4 million square meters. m. Behind the current record demand is the renewal of the country’s infrastructure and the rapid development of Russian companies. We see completely new names in different industries. There are interesting trends when a company from the regions comes to the Moscow market, although this has never happened before. Another important point is the development of the e-com market,” said Mr. Alyabyev. In 2024, the expert predicts demand at 4.5 million sq. m. m.

CORE.XP also expects that at the end of the year the average cost of renting warehouses excluding VAT and operating expenses will reach 8.5 thousand rubles. for 1 sq. m per year, and in 2024 it will exceed 10 thousand rubles. The share of vacant space at the end of the year will be almost zero.

As Kommersant previously wrote, increased demand has given warehouse space first 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.

Read more in the material “Warehouses have developed prices”.