Property consultant Cushman & Wakefield's latest Retail Market Snapshot for Moscow reveals that the average rental rate in shopping centres increased to $2,000 per m[sup]2[/sup] per annum in October, up from $1,850 in September. The highest rent rates were registered in the Central Disrict and Third Ring Road District (TRD) and amounted to $3,050 and $1,850 respectively.
Property consultant Cushman & Wakefield's latest Retail Market Snapshot for Moscow reveals that the average rental rate in shopping centres increased to $2,000 per m2 per annum in October, up from $1,850 in September. The highest rent rates were registered in the Central Disrict and Third Ring Road District (TRD) and amounted to $3,050 and $1,850 respectively.
The October report, which was co-produced by Stiles & Riabokobylko, also found that the shortage of high-quality retail space in Moscow is persisting and that average vacancy rates for shopping centres in the capital are 0.19%.
Despite a 7.5% rise in consumer prices since the beginning of the year, prime retail corridor rentals have fallen to $1,764 per m2 per annum in October from $1,951 in September. Vacancy rates for this sector also increased to 8.48% up from 6.77% in September. Highest vacancy rates in the capital were in Leningradsky Prosp at 21.14%.