Yekaterinburg: Store Rent Up 4.2%

UrBC, Yekaterinburg, August 7, 2019. A store renting space in a large shopping mall in Yekaterinburg had to pay RUB 2,670 per m2 a month on average in the second quarter of 2019, which exceeded the mean rental prices for one year earlier by 4.2%, Ural Real Estate Chamber's analyst Anna Golovkina told UrBC.

'Several malls raised their rental prices after the VAT increase, and by about the same percentage (2% to 5%), in the first quarter of 2019. A number of malls reacted to the VAT a bit later, in the second quarter of the year, and some of them raised their rental prices as part of their business as usual,' Golovkina said.

According to Golovkina, Ural Real Estate Chamber expects the remaining malls that still operate at old rental prices to raise those by 2% to 5% in the second half of the year.

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