Since the beginning of the year, the upper end of rental rates for real estate located on Tverskaya Street has fallen sharply, Knight Frank reports on Wednesday.
According to the experts’ calculations, the upper end of rental rates in this area of Moscow decreased by 20% compared to the first half of 2017. Thus, to date, the most expensive rental of real estate on Tverskaya Street does not exceed 160,000 rubles per square meter annually.
Experts have explained that the size of a rental rate is affected by factors such as the location, area, as well as the profile of the tenant. In other central regions, this indicator is also decreasing: on Sadovoye Koltso — by 17.6%, on Arbat — by 13%, in Stoleshnikov Pereulok — by 10.7%. The growth was recorded only for real estate located on Kuznetsky Most.
Tverskaya is gradually becoming a pedestrian street, with bookstores and interior shops, as well as grocery and clothing retailers seeking a site there. “These tenants have less revenue than operators focused on car drivers, therefore, they initially negotiate with the owners of premises on Tverskaya street on a lower rental rate,” Victoria Kamlyuk, an expert with Knight Frank, said.