Foreign investment in Russian commercial property hits 7-year high

Moscow City

Moscow City

Foreign investment in the Russian commercial property market has hit a seven-year high driven by the weakness of the rouble, according to a new report from Cushman & Wakefield.
Foreign capital accounted for 42% of investment in the sector in the first nine months of the year, the highest rate since it peaked at 77% in 2008, with foreign investors putting up $848m of a total of $2bn. However, although foreign investors remained active, overall investment in commercial property dropped by 44% over the same period in 2014 as their domestic counterparts cut back expenditure from $1.8bn to $1.2bn.