Hotels in the two Russian cities of Moscow and Saint Petersburg recently enjoy the benefits of massive tourism inflows with the recent World Cup Soccer event.
According to JLL, the vacancy rate of Moscow's office market continued to decline in Q2, 2018 amid low completions and rising take-up. The current vacancy, at 12.0%, is the lowest since Q3 2008. The decline began in Q3 2015 when it was 17%.
According to global real estate consultant JLL, Russia's commercial real estate investment volumes reached USD1.29bn in H1 2018, down 39% YoY from USD2.13bn in H1 2017, says JLL.
According to JLL, Russia's real estate investments reached $728 million in Q1 2018, down 8% Year-over-Year from $792 million invested in Q1 2017.
Both Moscow and St. Petersburg luxury segments' Average Daily Revenue (ADR) crossed a threshold of RUB18K for the first time.
The Central Business District office market of Moscow contains a hidden imbalance, which is represented by a shortage of large offices. This will raise landlord confidence and stimulate rental rents growth in the near future.
Substantial increase in sales dollar volume from Canadian buyers, foreign investment in U.S. residential real estate skyrocketed to a new record-high
According to JLL, office completions in Moscow in Q1 2017 dropped to 21,143 square meters, 63% down Year-over-year. The delivery of 63,000 square meters of future office space was postponed.
The market in the Russian capital is still riding strong, gaining volume of rooms sold in most segments and rates in some. Overall, the weighted market average occupancy of the quality hotels in the Russian capital had risen 2.6 ppt.
Developers completed more retail centers across the globe last year than in 2015, but momentum appeared to wane in many countries.
According to international property consultant JLL, with no new shopping centres delivered to the market in Q1 2017, the vacancy rate in existing retail properties in Moscow declined from 7.5% to 7.2%.
According to the newly released Last Mile / City Logistics Report from CBRE, the rapid rise of e-commerce has driven the most disruptive movement to the industrial & logistics industry, transforming the way we think about industrial real estate.
According to JLL, the vacancy rate in main Moscow high-street corridors dropped by 2.8 pp to 10.2% in Q3 2016. Myasnitskaya Street and Patriarshie Prudy stayed at the top.
According to JLL, office take-up in the Moscow City district in Q2 2016 reached 120,000 sq. m, while for H1 2016 the figure totaled a record 207,000 sq. m, which was three times higher.
With the Brexit vote is complete, and the divorce proceedings of the UK from the European Union is now afoot, with considerable uncertainty and no real precedent, the future implications for UK's property markets are significant.
Hotel consultant STR is reporting this week that 2015 marked the first year since 2010 in which the European hotel industry passed hotels in the U.S. in year-over-year revenue per available room (RevPAR) growth.
Moderate economic growth with low interest rates, punctuated with bouts of pessimism and volatility are likely to continue in 2016