Last year, commercial real estate was injured more than all other market segments. A low level of demand led to the accumulation of vacant space in 2009 to 429.510 thousand. sq. m., that 25.9% of the total is equivalent. Bets in class A and B business centers, in ruble terms, fell by 26% and 23%. Experts say, also about the further decrease in the rate in the premium segment, which has lost 40% from the beginning of the crisis. A difficult situation is caused by a lack of supply deficiency in the commercial real estate market. The number of new shopping centers and offices every year increased according to geometric progression. If the need for the population in residential real estate could not disappear with the beginning of the crisis, but solvency was minimized, then the need to expand the business, in residence -based times, changed the strategy of savings and minimalism. As a result, the fall of rental rates and the cost of sale in the category of non-residential structures turned out to be predominant, and amounted to more than 50% of pre-crisis prices in some transactions. Expect the correction of the value of commercial real estate, in particular oversaturated and ove-accused objects, costs at least 2-3 years.
Residential real estate, as well as commercial, until recently, was more predictable in price, and the price was at the level of 1-1.5 higher than now. After all, earlier apartments, both in Moscow and in the regions of Russia, were built and calmly sold at prices 2-3 times lower than today. But, after the rapid growth dynamics of 5-8 times in 7 years (2001-2008.) and further falling by about a third at the end of 2008 – the first quarters of 2009. Real estate prices in the country were fixed between their starting and record marks.
The commercial real estate market, and in particular its office segment is very inert: sellers are in no hurry to sell objects at minimal prices, as a result of which the number of transactions is catastrophically low. The rental market is less inactive, and the price indicators of the offer of supply really display this situation. Compared to pre -crisis, high indicators, the average rental rate decreased by 33.3%.
Analysts believe that the revival after the crisis of the real estate market will be slow and phased, and the restoration of pre-crisis indicators is possible only in 2012-2013.