Russia will need 105,000 migrants in 2020

The Russian economy will need 105,000 foreign workers in 2020. This was stated by Deputy Prime Minister Tatyana Golikova at a meeting of the Russian tripartite commission for the regulation of social and labor relations.

Real Estate

Housing prices in Russia will rise by 10-15% in 2020

New development in 2020 will rise in price by 10%, apartments on the secondary market by 6%. Such a forecast was made by real estate portal CIAN analysts. In some new buildings, where apartments are in demand, the price increase may reach 15%, developers say. The cost of housing will increase due to the transition to escrow accounts, lower supply volumes, and mortgage rates.


Over 9 million tourists visited Saint Petersburg in 2019

2019 was a record-breaking year for the Saint Petersburg tourism industry. For the first time in history 9.1 million people visited the city in 2019. The tourist flow to the Northern capital increased by 10% compared to 2018.


The number of hypermarkets has decreased in Russia

The share of discounters in the total area exceeded 55%

The Ministry of Industry and Trade analyzed the development of the retail real estate market in 2019. According to the results of last year, the share of hypermarkets and supermarkets decreased, while the share of discounters and convenience stores increased, the Parliamentary newspaper writes with reference to these departments.

Over the 11 months of 2019, the total discounter area increased by 1.8%. The share of discounters in the structure of the total area increased to 55.1%. The Ministry of Industry and Trade notes that last year there were prerequisites for reducing government intervention in the retail segment.

Earlier, analysts noted that in 2019 in Moscow, the main engines of trade were supermarkets near the house, coffee shops, and burger shops. Experts have announced the disappearance of large supermarkets from the capital’s street retail market.

The company Knight Frank believes that metropolitan shopping centers are expected to transform. Now more than 60 Moscow retail facilities built over four years ago need reconstruction. About 75 shopping centers that were built before 2010 do not meet the conditions of tenants and customer requests.