Over the nine months of 2026, more than 130 billion rubles were attracted to retail ZPIF real estate

Residential real estate is no longer perceived by Russians as the most reliable way to invest funds. This conclusion was reached in the Criminal Code "Modern Real Estate Funds" (MC "SFN") following a survey conducted in September 2026. The study affected more than 7000 residents of 37 cities of the country with a population of more than 500 thousand people.

Only 3.8% of respondents named housing as the most profitable segment of real estate in the next ten years. At the same time, according to the Domklik platform, only 4% of Russians purchased an apartment in a mortgage with the expectation of subsequent rental, and 1% for resale. Nearly half of respondents could not determine which segment of the real estate market is likely to be the most attractive for investment. Nevertheless, the attention of private investors is increasingly shifting towards commercial properties. This is reported by newstula.ru.

According to the respondents, warehouses and logistics real estate have the greatest potential: 12.1% of the study participants chose this option. Hotels received 5.8% of the vote, office real estate – 5.2%.

At the same time, the study revealed that the main obstacle to investing in commercial facilities through closed mutual funds remains the lack of knowledge about the mechanism of the ZPIF: 33.5% of respondents answered so. Among those who are familiar with this tool, 37.4% identify a low entry threshold, 36.2% - professional selection of real estate, and 14.7% - regular payments from rental income. When choosing a management company, 41.9% of respondents primarily assess the quality and composition of objects in its portfolio.

Interest in commercial real estate among Russians has formed, but understanding of its economy remains limited. Choosing a promising segment of real estate is important, but not enough: the financial result of investments will depend on the purchase price of a particular object, its location and technical condition, the quality of tenants, the terms of contracts and the professionalism of the management company. This was stated with reference to the results of the study by the General Director of the UK “SFN” Ekaterina Chernykh.

According to her, before buying shares, investors want to understand what facilities a particular company manages. Chernykh noted that the market should not only open access to commercial real estate, but also transparently explain the structure of funds, sources of income, possible risks and restrictions.

Interest in real estate investments remains. For the first nine months of 2026, the volume of investments in retail ZPIF real estate under the management of the SFN Criminal Code exceeded 130 billion rubles. Against this background, the company launched the Modern Collection 3 fund, aimed at investing in high-quality Class A business centers in Moscow.

Each object of the fund is supposed to be pre-inspected and insured. The term of ZPIF will be 15 years, and the forecast profitability, according to SFN, will be comparable to the profitability of short-term deposits. The starting cost of the unit is set at 100 rubles. Purchase shares will be able, including unqualified investors through the application “Sberbank Online”.

Ekaterina Chernykh connects the prospects of the office segment with the shortage of quality facilities. According to her, the market is not enough vacant space and large lots, because after 2020, expectations of mass transition to remote work held back the introduction of new business centers. At the same time, the demand for modern offices, especially Prime and A classes, remains high. These conditions, according to the company, form the long-term investment potential of the segment.

“The new fund will include only multi-stage selected facilities. Our task is to give private investors access to quality office real estate and professional management with a low entry threshold, said Ekaterina Chernykh.

The Modern Collection 3 Foundation continues the line opened by the Modern Collection Foundation, formed on the basis of the White Square Moscow business center. Earlier, the MC “SFN” completed the work of the Fund “Modern rental business”. According to the company, for ten years its profitability exceeded 280%, and payments when repaying shares amounted to more than 9 billion rubles. The company sees these results as confirmation of the potential of collective investments in commercial real estate for long-term capital growth.