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


  1. Orekhov D.B. [Management of commercial real estate as a form of business and type of intellectual entrepreneurship]. European Social Science Journal, 2015, no. 1-1, pp. 51–57. URL: Link (In Russ.)
  2. Gusakova E.A., Boriskina Yu.I. [Multifunctional centres projects life cycle development in crisis and oversupply of commercial real estate market]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, vol. 10, no. 2-1, pp. 716–721. (In Russ.)
  3. Aleshnikova V.I., Smotrova T.I. [Marketing models of interaction of subjects of the market of trade real estate]. Vestnik Voronezhskogo gosudarstvennogo universiteta. Ser. Ekonomika i upravlenie = Proceedings of Voronezh State University. Ser. Economy and Management Communication, 2015, no. 3, pp. 171–176. URL: Link (In Russ.)
  4. Kochetova O.A. [Estimation of the retail real estate market development trends in 2015]. Torgovo-ekonomicheskii zhurnal = Russian Journal of Retail Management, 2015, vol. 2, iss. 1, pp. 41–54. URL: Link (In Russ.)
  5. Orekhov D.B., Shubaeva V.G. [Formation of typical structures of consumer value as business formats of trade real estate (Russia, St. Petersburg)]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2014, no. 3, pp. 218–223. URL: Link (In Russ.)
  6. Bulei N.V., Chizhan'kova I.V., Bondaletova N.F. [Analysis of the commercial real estate market and construction of rent]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, vol. 10, iss. 3-1, pp. 1141–1144.
  7. Vorontsova D.S., Popova I.V., Kutuzova A.A. [Research trends market shopping centers in Russia]. Sovremennye problemy nauki i obrazovaniya, 2015, no. 1-1, p. 678. (In Russ.) URL: Link
  8. Semenova E.E., Lebedeva O.A. [Marketing services in the real estate market]. Nauchnye zapiski OrelGIET = Scientific Journal of Orel SIET, 2015, no. 2, pp. 122–126. (In Russ.)
  9. Mareev Yu.A., Kievskaya R.L. [The real estate market of Moscow: major trends]. Promyshlennoe i grazhdanskoe stroitelstvo = Industrial and Civil Engineering, 2016, no. 8, pp. 58–63. (In Russ.)
  10. Sirotnikova M.V. [Analysis of tendencies and perspectives of development of the market of office real estate in St. Petersburg]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, no. 4-1, pp. 203–207. (In Russ.)
  11. Stolyarov A.A., Germisashvili A.I. [The state of the market of commercial (office) real estate in Russia during the period of geopolitical crisis]. Innovatsionnaya ekonomika: perspektivy razvitiya i sovershenstvovaniya, 2015, no. 2, pp. 246–248. URL: Link (In Russ.)
  12. Belyanskaya O.Yu. [Peculiarities of branding and promotion of office and suburban real estate objects in Russia]. Brend-menedzhment, 2014, no. 3, pp. 176–182. (In Russ.)
  13. Sapegina S.G., Pomytkina L.Yu., Kuklinov M.L. [Development trends of office real estate market in the conditions of economic uncertainty]. Sovremennye problemy nauki i obrazovaniya, 2015, no. 1-1, p. 513. (In Russ.) URL: Link
  14. Adamenko M.B. [Classification of office real estate]. Nedvizhimost': ekonomika, upravlenie = Real Estate: Economics, Management, 2009, no. 3-4, pp. 77–80. (In Russ.)

View all articles of issue


ISSN 2311-8733 (Online)
ISSN 2073-1477 (Print)

Journal current issue

Vol. 16, Iss. 10
October 2018