regions provided record demand for warehouses – Kommersant
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The volume of demand for warehouse real estate in Russia at the end of 2023 amounted to 6.1 million sq. m. m, which is a historical maximum and 2.5 times higher than last year. The head of the research department and analyst of IBC Real Estate (ex.JLL) Ekaterina Nogai spoke about this at conferences “Warehouses and e-com”, organized by the Kommersant Publishing House. At the same time, according to her, the focus of development has shifted to new markets in regions where the volume of warehouse construction has sharply increased.
“6 million sq. m was sold in 2023. The market has never experienced anything like this. Transactions were closed both in rental and in sales, a significant part of them were built-to-suite transactions. At the same time, small markets with minimal supply faced record demand,” said Ms. Nogai. According to her, demand in developing hubs exceeded a record 1.2 million square meters. m. In St. Petersburg, the volume of demand amounted to 1 million sq. m. m, which is on average two times higher than a year earlier. In the Moscow region, transactions with warehouse real estate totaling 3.4 million square meters were concluded. m.
In 2024, the expert expects an acute shortage of space in the warehouse market. She noted that at the moment the share of vacant space remains at 0.3%, and the total marketed supply is only 1.3 million square meters. m, of which 123 thousand sq. m falls on light industrial. A year ago this figure was several times higher.
From the end of 2021 to the end of 2023, the supply of warehouse real estate in the Russian Federation increased by 17.1%, to 281 sq. m. m per 1 thousand people, previously calculated in Nikoliers. The dynamics were most pronounced in regional markets.
Why logistics real estate is being built faster outside of Moscow – in the material of Kommersant “Everything is going well for the regions”.
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