Ural Chamber of Real Estate: Yekaterinburg suffers from warehouse shortage

21 August 2013 (09:23)

August 21, 2013. The supply is rather limited at the moment at the warehouse market in Yekaterinburg: the existing space is still not enough to meet the demand. Besides, nearly 120,000 sq m worth of storage space is frozen for the time being. Rent has gone up by over 50% in this market segment in the last three years, experts from Ural Chamber of Real Estate Analytical Department report.

Because of the developers’ low activity when the recession struck, the market got a very limited supply of new storage space, so at the moment the shortage is keenly felt, especially in the good quality space segment.

The warehouse market has been growing rather dynamically over the last few years. In 2011-2012, over 200,000 sq m of new, modern warehouses were built in Yekaterinburg and nearby. Another 25,000 sq m were commissioned this year. Most of these facilities pertain to the best quality segments such as Class A and B. As a result, the growth dynamics came to 15% in the last two and a half years, and the total area of warehouses is now 1.7m sq m, Ural Chamber of Real Estate reports.

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