According to the results of the third quarter of 2018, the average weighted base rate for the lease of warehouses in the Moscow region grew by 10%, amounting to 3,600 rubles per square meter per year, according to a study by CBRE.
“The condition of the warehousing market is steadily improving, the beginning of growth in rental rates confirms this and, at the same time, it is a signal for market actors, primarily for those who plan to rent warehouse space. The period of a surplus of spaces and minimum prices for warehouses ends”, Deputy Director at the market research department of CBRE, Vasily Grigoriev, was quoted as saying.
The company has pointed out that in the third quarter of 2018, the share of vacant space in the market of Moscow warehouses has decreased down to 8.1%, which is the minimum value for the last three years.
In just three quarters of the current year, 238,000 square meters of storage facilities have been built in the region. This is almost half the figure for the same period last year when some 465,000 square meters of storage spaced were brought to the market.