Investors have maintained an active interest in the Russian real estate market despite a weak demand and stagnating economy as revealed in a study by Jones Lang LaSalle.
According to the global leader in real estate services, Russia attracted $8.1 billion in 2013, down 7.5 percent from last year’s record $8.8 billion.
Commercial and shopping real estate accounts for 37 percent of the total investment each. Industrial real estate makes up 14.2 percent, multi-format facilities 8 percent, hotels 3 percent and residential real estate totals just 0.7 percent.
The share Moscow-based deals dropped from 88 percent in 2012 to 84 percent. St. Petersburg followed suit, edging down from 10 to 6 percent this year amid growing interest in regional hubs like Ufa, Omsk or Novosibirsk.
Author: Mikhail Vesely