- 2014-05-05
- 1 комментария
ILM analysts have prepared an overview of the Moscow office real estate market in the first quarter of 2014.
The main market indicators are as follows:
In the first quarter of 2014, the total supply of quality office space in Moscow reached 15.5 million square meters. In the first three months, 229 thousand square meters entered the market. m of office space, which is 6% more than the same period last year.
Net absorption of office space in the first three months remains low, but shows a positive trend. Thus, the volume of the net absorption increased by 8 times compared to the same period last year, and at the end of the first quarter of 2014 this figure was 151 thousand sq. M.
At the end of Q1 2014, the average vacancy rate in the market was 13.3%, which is 0.3% less than at the end of last year.
The beginning of the year in the Moscow office market, as in the economy of the country and the world as a whole, was characterized by a fairly high level of uncertainty. This could not but affect the cost of renting premises, when many landlords are forced to reduce rental rates in order to attract tenants. Also in the first quarter of 2014, significant currency fluctuations occurred. In the first three months, the average requested base rental rate in class A was $ 750 per sq. M. m per year, in objects of class B + - $ 555 per square. m per year. For class B - the average rate was $ 410 per square. m per year.
More information can be found in our report.
ILM Press Center
