At the end of this year the amount of investment may come close to the transaction volume of the record-setting 2023 (RUB 500-600 billion), including due to investors stepping up their activity and placing their capital in hedged assets as well as due to the desire of sellers to maximize their profits from long-term holding of real estate assets amid upcoming changes in the tax legislation.

Foreign owners continue their exodus from the Russian market as they are completing the series of transactions, launched in 2022-2023. Because of this trend, the average amount of an investment deal is almost twice higher than during the recent decade.

The cap rates have been stable throughout the entire first half-year of 2024 and they are not expected to change till the year’s end.