Warehouse rental rates in Moscow will set historical records in 2024 – Kommersant
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A sharp shortage of warehouse space in Russia in 2024 will lead to a rapid increase in rental rates, said the head of the research department and analyst at IBC Real Estate (ex.JLL) Ekaterina Nogai at the conference “Warehouses and e-com“, organized by the Kommersant Publishing House.
According to her forecasts, rental rates for warehouse premises located in the Moscow region will reach new historical highs and amount to 9 thousand rubles. for 1 sq. m per year for existing facilities and 8.5 thousand rubles. — for objects under construction and built-to-suit objects. At the same time, the peak rate growth will occur in the first half of the year, and a decrease in the key rate in the second half of 2024 may in the future help stabilize rental rates.
“The increase in rental rates is due to increased demand, the high cost of debt financing, a shortage in the labor market, and rising construction costs,” said Ms. Nogai.
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. According to her forecasts, high and unsatisfied demand for warehouse real estate will continue for the next two to three years.
As before wrote Kommersant, the restructuring of logistics and the development of online retail have shifted the focus of development of the warehouse market to the regions. The provision of space in Omsk, Yekaterinburg and Krasnodar has increased by 26–59% over two years, several times higher than in Moscow.
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