26.02.10
CB Richard Ellis prepared a new Russian Investment Market Report for 2009.According to the new Market Report for 2009, the total volume of investments in Russia in 2009 was Euro790 million - 77% down from the levels seen in 2008. 2006 to 2008 were boom years for Russian real estate investment, with investment volumes rising beyond Euro2,500 mln in each of those years, and beyond Euro3,400 in 2008. Nevertheless, we believe that the bottom of the market was reached in 2009 and expect stabilization and a gradual recovery in 2010.
The report shows that there were 22 investment deals in 2009, compared with 50 in 2008 and 25 in 2007. The average deal size is estimated at Euro49 million. This compares with an average deal size of Euro71 million in 2008 and Euro110 million in 2007. The largest deal of the year was the sale of 5 office properties in Moscow by Horus Capital, a Russian developer, to BinBank, a Russian banking group, for an estimated Euro214 million.
