Consumer preferences in the commercial real estate market in Russia
(R2021-104583)

AUTHORS

Yana Katkova, National Research University Higher School of Economics

KEYWORDS

consumers; preferences; property

ABSTRACT

Digital transformations during the COVID pandemic changed consumer behavior: people began to work, study, buy and receive goods from their homes. This led to a change in the logistics and supply chains of the business. Both of these reforms affect one particularly considerable market - the commercial real estate market, which includes retail, office, industrial and warehouse property. In this paper, the preferences of commercial real estate users after the end of lockdown in Moscow were scrutinized. On the data of more than 1000 questionnaires, current requirements of consumers of commercial property to the area, location, price and technical characteristics of the building and premises were found. The paper shows the significant changes in consumer preferences in the market after the lockdown. These shifts can lead to the transformation of the construction market, location policy, investments in the commercial real estate market.