After the peak of pandemic restrictions and ongoing geopolitical volatility, foot traffic to shopping centers has been climbing again. This trend is noted by Kommersant, signaling a cautious revival in consumer movement and retail activity.
Developers, watching the market closely, are slowly resuming projects that were paused. Yet the discussion around brand‑new builds remains restrained for now, with capital prioritized for reviving and expanding existing properties. Kommersant’s coverage highlights a market leaning toward optimization and renovation in the near term.
Analyst Mikhail Vasiliev points to a gradual uptick in shopper activity spurred by the opening of new stores and the growing appeal of large, anchor retail centers. This aligns with broader consumer sentiment shifts, where convenience, mixed offerings, and experiences compete for attention in crowded urban spaces.
Data from Yandex show the average sale price for commercial real estate in Moscow at around 322 thousand rubles per square meter, while St. Petersburg sits at about 244 thousand rubles per square meter, indicating robust momentum in both markets. These figures reflect strong asset liquidity and a resilient appetite for premium urban spaces.
Tenant demand in high‑street retail is rising as well. Vacancy hovers near 10 percent, and in several locations rents can approach around 10 thousand rubles per square meter annually or monthly equivalents, depending on local conditions. Experts forecast a steady, gradual rise in prices as activity strengthens and landlords respond to improving demand.
In contrast, the office sector shows lagging momentum amid a slower broader economy. In Moscow, average annual rents for Class A offices hover around 36 thousand rubles per square meter, while Class B offices run about 23 thousand rubles per square meter. In St. Petersburg, corresponding figures are roughly 1.7 thousand and 1.2 thousand rubles per square meter per month, respectively. These contrasts underscore the diversified pace between retail leasing and traditional office space utilization.
Earlier discussions among economists raised questions about how entrepreneurs can optimize their tax positions in 2024, with policy shifts and planning strategies in focus. The debate centered on compliance, incentives, and how tax planning could influence investment timing and capital deployment across markets.
Recent reports also reference notable shifts in the United States, including the downturn of a major coworking space network that once led the market. The change underscores a broader recalibration in flexible workspace demand and the resilience of traditional retail and urban centers in North America.
Taken together, these developments point to a more nuanced picture of post‑pandemic real estate dynamics. Retail locations are regaining traction, driven by consumer curiosity and the magnetism of comprehensive shopping experiences. Office spaces, while recovering slowly, reveal a sector in transition, exploring hybrid models and selective leasing strategies to align with evolving work patterns. In both regions, investors and developers appear to be prioritizing assets with adaptable layouts, strong tenant pipelines, and the potential to deliver integrated experiences that blend shopping, dining, and entertainment. This collective outlook reflects a market reboot where value is increasingly tied to location quality, experiential offerings, and long‑term resilience in changing economic tides.