Krasnodar, 9 February – Yug Times. Krasnodar has reportedly topped the list of Russia's cities in terms of the amount of warehousing space put into operation in 2023. According to the NF Group consulting company, the regional capital ranked second in Russia (excluding Moscow and St. Petersburg) with the average area of 315,000 square metres, second only to Yekaterinburg (541,000 square metres).
In the other cities, the volume of new warehouses did not exceed 100,000 square metres. The total volume of warehouse property commissioned in the regions reached 1.6 million square metres, which was 1.6 times more than in 2022 and 15% more than in the record-breaking year of 2021.
The total volume of concluded regional transactions in the warehouse property segment also reached a record high in 2023 - 3.3 million square metres. This is 5 times higher than in 2022 and 2.7 times higher than in 2021. In addition, according to the results of 2023, the regions equalled Moscow in terms of the total volume of such transactions. It is noteworthy that online and offline retailers accounted for about 92% of the total volume of transactions in the regions.
"According to our data, the total of purchased and leased space in the Krasnodar region in 2023 was 104,000 square metres, which was one of the highest results in the region throughout the history of the warehousing market, second only to 2021 (154,000 square metres)," says Yekaterina Nogai, Head of Research and Analytics at IBC Real Estate. "The high demand is a consequence of the rapid recovery of the consumer market and the realisation of the population's accumulated potential - starting from April 2023, the retail turnovers every month exceeded the similar indicators of 2022."
According to Polina Afanasieva, Head of Research and Analytics at Commonwealth Partnership, Krasnodar Krai, like many regions of Russia, is experiencing a shortage of high-quality warehousing facilities. As noted by Filip Chaika, Partner and Head of Industrial and Warehouse Real Estate at IPG.Estate, the total volume of the Krasnodar region's quality warehousing realty market reaches 1.3 million square metres, and the share of vacant space is nearing zero.
"The situation with the development of the industrial and warehousing property market in the region generally corresponds to all-Russian trends: high demand from marketplaces, retailers, logisticians, and an acute shortage of quality supply. New projects do not enter the open market, as they are contracted under preliminary agreements at the construction stage," explains the expert.
In Russia's regions, at the end of 2023, the volume of vacant space available for direct lease did not exceed 0.3% of the total supply, according to NF Group's research.