The warehouse real estate market of the Moscow region is entering a phase of high activity again. In the first six months of 2023, the volume of concluded lease and sales transactions reached a record semi-annual value of 1,389 thousand square meters. This result already exceeds the total value of 2022 by 2.7% and represents the highest half-year demand in the entire history of the Moscow market development. The record demand for warehouse spaces has led to a sharp reduction in available supply (by 1.9 percentage points compared to the beginning of 2023) and the depletion of large vacant blocks in ready-to-use high-quality properties. As of the end of the second quarter of 2023, the vacancy rate was recorded at 1.0%, repeating the figure at the end of 2021.

The volume of new construction at the end of the first half of 2023 amounted to 538 thousand square meters, which is 16% lower than the result for the same period last year. Thus, the overall supply volume amounts to 22,351 thousand square meters. By the end of the year, the cumulative volume of newly added properties is expected to reach 1.5–1.6 million square meters, which is comparable to the volumes added in 2022.