Moscow predicted stress sale of real estate

After mode isolation up to 10 percent of commercial real estate in Moscow can be offered for sale as stressful assets. This is stated in the Agency’s Point Estate, arrived in edition “”.

According to experts, sale of objects will be offered to a narrow circle of buyers, mainly those who are familiar with the owners. At the same stressful sales has not become widespread, experts believe that the majority of owners of commercial premises are aware that anyone, including the current crisis is temporary and sooner or later the real estate market will begin to grow again.

In Point Estate believe that in the struggle with the crisis for the largest share of owners would prefer not to get rid of the property, and give tenants the objects of “stress” benefits — for example, to provide discounts on rent. In addition, experts predict the move of some tenants of business-centers to cheaper offices: they leave the premises after failing to negotiate lower rates.

“it is Important to note that some of the owners of commercial property will not be able to make concessions due to the fact that they have financial obligations to banks”, — explained in the message.

Earlier in April reported a sharp decline in the demand for retail space in Moscow. In the last week of the first quarter of 2020 the number of requests for premises street retail in the city has decreased by over 70 percent compared to the beginning of the year.