Even today, it is clear that commercial real estate market are waiting for the inevitable adjustment: in 2009 we can expect reduction in rental rates from 15 to 50% for different classes and segments. You may want to visit tom cruise to increase your knowledge. Probably more will suffer the most expensive segments, but the most resilient to the crisis would be so-called middle class – a class B offices, and shopping online format ‘discount’. Demand significantly reduced, but the market does not freeze – now it’s time to tenants, the first time in many years will be an adequate amount of vacant offers, and owners of facilities will, finally, are more loyal to the tenants and customers by offering various discounts and bonuses. Eugene Grihanov, CEO of management company IQ Property Management: – Commercial real estate market in recent years begun to move from the initial stage in the development stage, which was characterized by a more serious approach to quality and destination objects. Qualitative analysis of the market has found high-deficit areas in all segments – office, retail, logistics, exhibition, hotel real estate – all over Russia.
Widely used format for mixed-use complexes. In 2009, tens of percent lower rental rates will have to order the owners, who have positioned their sites as high-end projects (A and B), when in reality they did not meet this level. If in addition, the draft contained additional risks, particularly related to location, the high probability of exhibiting it for sale. These projections are based on the realization that the crisis has revealed a number of problems in all areas of the economy. In the real estate is the lack of uniform standards in classification of objects and the corresponding parameters klassnosti objects. I must say that in 2008 the real estate market went a hell of maturity and a blind eye to obvious facts became increasingly difficult. I think that the crisis will contribute to the formation of a civilized market of commercial real estate in Russia, which certainly have a positive impact on future business performance projects.
Andrew Bushin, General Director of ‘Miel Commercial Real Estate‘: – In the first half of 2008 we saw steady growth in commercial real estate market. Then a series of events led to a need to stagnate and then decline sharply major indicators. Such a way, we can conclude that the difficulties in financial markets had a negative impact on the development of commercial real estate segment as a whole. While we can not predict with accuracy exactly when situation will change for the better. However, among the positive points it is worth noting that today due to some reasons, there is pent-up demand, due to which the market can then go about nauroven pre-crisis period. Now the commercial property market went into a stage of correction. Change the basic parameters – size and structure of supply and demand, prices and rents – and the ‘pool’ of key players. If Generally speaking, the majority of landlords have reduced rents for approximately 10-20% of the values of the pre-crisis period. Under these circumstances, companies are looking to optimize their own costs. And this in turn leads to the fact that tenants will reduce the space requirements due to staff reductions, in addition, cost savings can occur by changing the quality of the office. It should be noted that an accurate prediction about the development of developments in the market, perhaps there is not.