The warehouse real estate market in the regions of Russia is showing a record semi-annual demand of 829 thousand square meters, which already surpasses the annual values of previous years, second only to the total result of 2021 when the demand reached 1,193 thousand square meters. However, considering the high activity in concluding deals, especially in the BTS format, it is expected that the total demand for the current year will surpass the 2021 result.

The first half of 2023 is characterized by a sharp reduction in the vacancy rate, which decreased by 0.9 percentage points compared to the end of 2022, reaching 2.0%. This has led to an increase in the weighted average rental rate, which currently stands at 5,140 RUB/sq m/year, excluding VAT and OPEX.

In the first half of 2023, the supply volume in the warehouse real estate market of the regions of Russia reached 11,436 thousand square meters, exceeding the result at the end of the previous year by 248 thousand square meters. The structure of the new supply was dominated by properties in the BTS format and for own use, accounting for 77% of the total volume. It is projected that by the end of the year, their share may reach 85%.