2023 was a record year in real estate investment volume in Russia 13:48

The past year 2023 was marked by a record amount of investments in Russian real estate, exceeding 800 billion rubles. writes about this Forbes.

According to Sayan Tsyrenov, director of Trust Technologies’ application for supporting transactions in the real estate sector, this year can be called the year of market redistribution.

The main share of transactions was provided by foreign investors who actively exited Russian assets in 2023. Russians were also actively selling real estate. The most striking example was the sale of the Mega shopping center portfolio to the Gazprombank group by the Swedish company Ingka Centers. This transaction ended the almost 25-year presence of IKEA, the largest foreign investor, in Russia.

Foreigners mainly sold in shopping malls (40% of the total), but large transactions also took place in warehouses, offices and hotels. The magazine is a subsidiary of Balchug Capital in St. He explains that it has become an active player by purchasing the Pulkovo Sky business center in St. Petersburg and the first phase of the Metropolis shopping center in Moscow.

Among Russians, AFK Sistema, Shopping Center Management Group and others stand out. According to the expert, purchasing high-quality assets at an attractive price will allow these companies to increase their business profitability.

The warehouse real estate market remains the most attractive. Rental rates here are increasing aggressively and reach almost 9,000 rubles per 1 square meter by the end of the year. m.Conservative investors who invest through closed investment funds are active.

The office market turned out to be more stable than expected; Most of the vacated areas were gradually leased by Russian companies. If this trend continues, vacancies will decrease and rates will increase.

Before that, the commercial real estate market in the Russian Federation to start get out of the recession.
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Source: Gazeta

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