Real estate investment volume in Russia totalled RUB 65 billion in Q1 2020, marking an increase of 82% y-o-y on the RUB 26 billion recorded in Q1 2019. The figure was the highest first quarter total since 2016.
Transaction volume was underpinned by the completion of several major deals in January and February – most of which had been under negotiation since late last year.
Elevated risk owing to the spread of COVID-19, worsening macroeconomic indicators and disruption to business activity will affect investment decision-making in the months ahead.
CBRE expects that Q2 2020 will see only a limited number of completed transactions, with activity likely to resume in H2 2020, albeit only if the pandemic is being effectively contained.