Russian cities with populations of over one million (Millioniki) are becoming increasingly important centres for the Eastern European industrial market, according to a new report.
Colliers International's latest Industrial Market Review for Eastern Europe, published at MIPIM, says these cities will have an increasingly important role to play as improving external trade links open up the European continent to the east.
Industrial property activity currently remains concentrated around the larger centres in the region - Moscow, Warsaw, Prague and Budapest.
These four cities have the largest volumes of modern stock with Moscow leading the pack with over 8 million m2.
The report also notes there is a clustering of activity around the industrial regions of Poland, the Czech Republic and Slovakia. 'These locations benefit from proximity to their feeder markets in Germany and Austria in particular, helping drive demand for space from regional distributors, manufacturers and retailers,' Colliers said.
In addition, Athens, St Petersburg and Gdansk (Tricity) have a wider distribution role to play as major European trading ports, which boosts the volume of activity in these specific markets.
Click on the link below for the full report.
