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Interesting About Real Estate
March 2008
The Archives
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03.18.08Law and Practice
Valuation (0)Law The basis of amounts of insurance for commercial real estate properties is established in Russian legislation as the actual value of the property at its location on the day the insurance agreement is concluded. In addition to this, legislation is clear that insurance amounts in excess of this value are invalid, and insured amounts lower than the actual value can subject the contract owner to reimbursement of a proportionally lower recovery amount. The most obvious issue is that the Civil Code and related regulations do not provide any definition as to what “actual value” really is. Common sources for establishing actual ...
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03.18.08An Appraisal Report: What must it contain?
Valuation (0)Last month in this column, we looked at the requirements of appraising for financial reporting purposes. We learned that the most important element of appraisal reports is the clear, market-based support that the appraiser provides for the value conclusions that he puts forth. This month we look a bit deeper at appraisal reports and what they must contain according to existing appraisal standards and generally accepted practice. Continue Reading...
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03.18.08Home Improvement Goes On
Retail (0)In the number of DIY stores, the St. Petersburg market is among the most saturated in Russia. More than 30 specialized chains with 150 housewares markets and 30 hypermarkets with home repair articles operate here. Nevertheless, growing personal incomes give hope to retailers that, in the next 3-5 years, demand for home improvement and repair goods will remain high. The city should expect 3-5 new hypermarkets to open every year. The share of retail outlets integrated into mixed-use complexes will also keep growing. Continue Reading...
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03.18.08Stocking or Storing?
Retail (0)Theoretically work in the warehousing sphere is organized in two ways: either every tenant receives a share of a unified warehouse or works on his own rented zone. The latter variant is the more common, with the aggregate of storage facility property occupying between 20% and 30% of rented space. The owner of any shopping center is interested in renting out as much shopping area as possible for the highest price, and this is causing less and less of these properties to be used for storage. Continue Reading...
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03.18.08Love and Hate in Real Estate
Retail (0)Any serious conflict between a management company and tenants might paralyze the work of a shopping center and seriously undermine its reputation. Both sides have an interest in civilized relations, naturally, but in practice there still might be plenty of cause for disagreement. How can a situation be created where all parties involved can address their grievances? Continue Reading...
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03.18.08Bargaining Is Out of Place
Retail (0)Today 33 market areas trading in foods and non-foods function in St. Petersburg. One-third of them are located in central districts, drawing the keen interest of the development community. Experts are positive that almost all urban markets will be re-profiled in the next 5-7 years. Continue Reading...
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03.18.08Overall Mobilization
Retail (1)Those operators are what any landlord would dream about: they are loyal even to the exorbitant rental rates and aptly work with space fitting their salons even into irregular and uncomfortable premises. As to the operators themselves, they dream of striding the human flows of middle-class shoppers in grocery and other hypermarkets. We are talking about the operators of mobile phones and accessories. Continue Reading...
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