- 14/03/2019 - 20:41
In Q1 2013, the total volume of quality office space in Moscow exceeded 13,8 million sq m. In the first three months, 164 thousand sq m have been commissioned, which is 42% more compared to the same period last year.
Net absorption in Q3 2013 amounted to 18 thousand sq m, which is 15 times less than in the first three months of last year. First of all, it is due to the fact, that many tenants are moving into new offices without increasing their office space because of changes in the requirements for occupied office premises.
On average vacancy rate in the market did not change and remained at the level of 11%. The highest vacancy rate is concentrated primarily in Class A office buildings and is equal to 19%. Class A vacancy rate has increased by 2% compared to the end of 2012. Vacancy rate in Class B+ did not change and remained at the level of 11%. Class B+ vacancy rate increased amounted to 7 % due to offer of new construction.
At the beginning of the year Moscow office market was characterized by a further stabilization and increase of rental rates. In Q1 –Q3, 2013 average rental rates demonstrated 2 % increase for Class A premises and 8% increase for Class B premises compared to the end of the previous year.
