The commercial real estate market in Russia exceeded 100 million square meters. m at the end of the year

The volume of the commercial real estate market in Russia in 2022 exceeded 100 million square meters. m, said the managing partner of the consulting company Nikoliers Nikolai Kazansky at the conference “Results of the commercial real estate market”organized by Kommersant Publishing House.

“We have an important event in the market: this year we have finally crossed the milestone of 100 million square meters. m. More than 37 million sq. m. m accounts for retail, 36 million square meters. m – for warehouse real estate, the rest – for offices. Although the residential real estate market annually introduces 95 million square meters. m. This year is likely to be a record year for the commissioning of housing. In spite of everything, we have a festive event and a record commissioning,” said Mr. Kazansky.

As Kommersant previously wrote, the commercial real estate market has not yet coped with the decline that was recorded at the beginning of the year. By the end of the year, the share of vacant premises in shopping centers and office centers increased. Owners began to fight for tenants, giving them individual discounts. The street retail market is experiencing a more vigorous crisis, where activity is supported by the active opening of budgetary catering establishments and alcohol markets.