Russian real estate investment volume approaches €4b in 2016
Russia’s real estate investments reached €1.03 billion ($1.1 billion) during fourth quarter 2016, up 67 percent year-over-year, according to JLL. The total 2016 volume was €3.94 billion ($4.2 billion), up 74 percent from €2.25 billion ($2.4 billion) in 2015.
In addition, 2017’s investment volume is forecast to reach €4.23 billion ($4.5 billion).
“Oil price growth and rouble appreciation have significantly reduced market uncertainties, supporting the rise of investors activity,” said Vladimir Pantyushin, head of research, Russia & CIO, at JLL, in a statement. “As has been the case after the 2008–2009 crisis, the real estate investment sector has been the first to react to improving conditions. Investors expect further rouble strengthening and see the market bottoming out.”
Investors continued to focus on assets in Moscow, which accounted for 80 percent of all deals in 2016. Other markets