Real estate
Commercial real estate. What affects its price
If statistics are to be believed, commercial real estate<\/a> in Moscow is in high demand. Moreover, sales predominate, while the rental of commercial real estate is experiencing a decline in demand.<\/p>
If we take cost into account, prices for office real estate have fallen, while for retail real estate, especially street retail premises, they have risen both in the center and beyond. Prices for industrial and warehouse premises have increased by an average of 5-6%. But, as before, the most expensive remains commercial real estate in the central districts of the capital.<\/p>
Sale and rental of street retail averages between $300 and $20,000 per m2, that is, the rental cost, depending on location, varies from $300 to $1,500 US per m2, and sale from $1.5 to 20 thousand dollars per m2:<\/p>
• in the Central Administrative District – 3-7 thousand dollars;
• in the residential districts of the capital – from 4.5 to 9 thousand dollars;
• the most expensive are the first floors near the metro, depending on the intensity of pedestrian traffic.<\/p>
And considering the excitement over premises in prestigious districts of the capital, for highly liquid properties, their value can significantly exceed established rates. For example, if the market value of retail space on Kutuzovsky Prospekt ranges from 20 to 23,000 dollars per m2, taking into account increased demand, the actual price could be 35,000 US dollars.<\/p>
Other factors affecting the price of commercial real estate include:<\/p>
• location – the closer to the center, the higher the price;
• appearance of the property – especially important for office premises, luxury boutiques and restaurants;
• availability of convenient transport links – this also explains the mass decentralization of commercial real estate for offices and street retail premises;
• layout – must correspond to the purpose of the premises and be attractive to tenants;
• infrastructure of the area – must correspond to the direction of activity of the buyer (tenant). For example, if we are talking about office and retail premises, parking spaces must be provided, or a close location of public transport stops, first floors near the metro are highly valued.<\/p>
Overall, today the commercial real estate of the capital is represented by various properties capable of meeting the different requirements of potential buyers and tenants, both in terms of purpose and financial capabilities.<\/p>
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