The main indicators of the office real estate market in Moscow at the end of 2013:
- As of the end of 2013, the total supply of quality office space in Moscow reached 15.2 million sq. m. In 2013, about 748 thousand sq. m. were commissioned, which is 20% more compared to 2012. About 60% of office space, introduced in 2013, is outside the CAO.
- At the end of 2013, the net absorption of office space decreased by about 85% compared to 2012. According to the results of four quarters of the year, the net absorption amounted to 114 thousand sq. m
- The low value of net absorption and the significant superiority of new construction volumes over it led to an increase in the vacancy rate. At the end of 2013, the average vacancy rate in the market was 14%, which is 3% more than at the end of last year.
- Compared to the end of 2012, having undergone some fluctuations over the course of twelve months, the average requested base rate for class A remained unchanged at $ 780 per sq. m per year. The average rental rate for class B + premises was $ 525 per sq.m per year, which is only $ 5 lower than that of the end of 2012. For Class B, the average requested base rental rate is $ 455 per sq. m per year, it is higher by $ 55 compared with the end of last year.
More information can be found in our report.
ILM Press Center