Bids fall in the center
In the center of Moscow, the rent of street retail objects has dropped. The average rate inside the Garden Ring in the second quarter of this year decreased compared to the first by 5% - to $ 2112 per square meter.
As noted in the research of the consulting company RRG, the decline occurred for all types of objects. According to analysts, this may be due to the overestimation of street retail premises in the center compared to facilities on the periphery of the center, since the rate growth for the first was 28% for the first year, and only 7% for the second.
According to the survey, the average rental rate for retail properties outside the Garden Ring in the second quarter increased minimally and amounted to $ 886 per square meter per year (excluding VAT and operating costs).
According to RRG, in the city as a whole, the supply of street retail facilities in April-June decreased by 19% in number and by 25% in total area (over the year, the decrease in these indicators was 28% and 34%, respectively). In total, in the second quarter, 228 facilities with an area of 63 of thousands of square meters were offered for rent (38 premises were exhibited in the center).
Experts at EliteCenter previously noted that the most sought-after in the street retail segment are rooms on Arbat, Kuznetskiy Most, Bolshaya Dmitrovka, Leningradsky Prospekt and Mira Avenue. According to the company, rental rates for street retail facilities in Moscow are $ 700-4000 per square meter per year. This writes fashionunited.ru.
In the center of Moscow, the rent of street retail objects has dropped. The average rate within the Garden Ring in the second quarter of this year decreased compared to the first by 5% - to $ 2112 per square meter ...
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