The Samara real estate market has been formed under the influence of Russian economical trends, plus the specific Samara region factors, this being primarily the urban agglomeration geography.
Between 2000 and 2008 Samara was following the tendencies common for the whole Russian real estate market development, for instance, emergence of new formats (trade and office centers, network retailing, multifunctional centers) on virtually «clear» market. Samara was among the first Russian cities where supercenters of international operators, such as «Castorama», «Metro Casch and Carry», «Ramstor» appeared and the federal retail networks, like «Perekrestok», «Paterson», «Mosmart», «M.Video», «Technosila», «Mir», «Santa-House» etc. started to develop actively. Samara was the first city among the regions where the modern multifunctional shopping & entertainment center of super-regional importance appeared; it was here where the first regional network project of shopping & entertainment centers was born, which later expanded to all-Russian network of malls. The drive of this energetic real-estate market growth was the increasing solvency of Samara population and its high mobility. Regarding the motorization rate (nearly 300 cars per 1000 people) Samara was in the first five before 2008, together with Moscow, St.Petersburg, Vladivostok and Togliatti. The retail turnover in Samara between 2003 and 2008 was increasing by 25-30% yearly, and in 2008 it exceeded 6 million dollars.
The market of office real estate was developing rapidly between 2003 and 2008. Many new objects in the office market, built in that period, were claimed to be «A» class, but only few of them really reach the «B» class level.
Regarding the pace of residential housing launch Samara was still among the leaders. In 2008 above 700 sq.m. of residential buildings were released. But in 2009 this rate dropped down more than twice.
The financial crisis brought significant changes to development of Samara real-estate market, which was affected worse than in other cities. In the period between 2008 to 2009-2010 many estate developing projects were frozen, some network brands, like «Mosmart», «Ramstor», «Mir», «Santa-House», «Paterson» and «Domovoi» left the market; the pace of residential housing release hampered dramatically, and in 2010 it was reported to be less than 100 thousand sq.m. In the coming 5 years according to the forecast of real estate market experts the offering of new objects will continue to decrease 2-4 times compared to before crisis period. At the same time, considering the fact that the real fall of consumer demand never exceeded 30%, plus the global macro-economical trends (remaining high prices for oil and gas), which are favorable for the Russian economy, plus the stimulating tools for economy stirring introduced by the State, the market experts speak about improvement of living standards and business activity. Great deferred demand is building up. According to market experts the peak of demand prevailing over supply in such segments as retail real-estate, office centers and high-quality residential housing is estimated to come in the years 2012-2016. It is within this period that the active phase of «SAMARA-CENTER» project is going to be implemented, thanks to this Samara dwellers will get the conceptually new living standards, business development, entertainment and shopping. Both city dwellers and experts agree that Samara lacks an attractive city center, like the Nevsky Prospekt area in St.Petersburg or the area within Garden Ring in Moscow. The historic center of Samara is too far away from the main residential districts, and geographically it is situated on the periphery of the city. The quarters of ancient houses with a web of narrow streets do not allow placing here any significant «points of growth», i.e. objects of city importance with comfortable logistics and a vast parking lot.
The «SAMARA-CENTER» project can fill up this lack and make up the modern city center with new standard of urban environment.
Based on the research made by «ROST-Retail» and «J.C. Williams Group».