Regional Economics: Theory and Practice

An analysis of the impact of economic crisis on the office and retail property market: A metropolitan aspect

Vol. 16, Iss. 7, JULY 2018

Received: 12 January 2017

Received in revised form: 20 March 2018

Accepted: 23 April 2018

Available online: 17 July 2018

Subject Heading: LOCAL MARKETS

JEL Classification: B22, С13, E21, F65

Pages: 1355–1375

Tetushkin V.A. Tambov State Technical University, Tambov, Russian Federation

ORCID id: not available

Subject This article considers the influence of crisis on the market of office and commercial real estate in capital cities.
Objectives The article aims to combine disparate pieces of information from open sources to establish the interdependence between market players and predict potential impact on the business and population.
Methods Using the systems and statistical approaches, the article analyzes aspects of the economic crisis impact on the real estate market in Moscow and St. Petersburg.
Results The article presents analytical data reflecting the indicators of the office and commercial property market in Russia, and shows the possible tendencies of its development. The scope of the results covers the activity of banking and other financial enterprises and organizations, development companies in the conditions of economic crisis.
Conclusions Within the last few years, the trade property market has been developing actively in Russia. The global financial crisis has had a significant impact on its development. According to many experts, in Russia, the commercial real estate sector was less affected by the crisis, but the negative effects in the economy will also affect trade, where the situation is likely to worsen.

Keywords: finance, real estate, analysis, crisis, trade


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