There is an unusual situation in the office real estate market - with record low commissioning of new facilities, there was a record demand. However, experts have found an explanation for this. The main thing is the tendency for the segment to begin to grow rapidly in the coming years. According to the deputy mayor of Moscow on urban planning and construction, Marat Khusnullin, investors are increasingly seeking permission to build xommercial real estate.
The number of new space for offices in the capital at the end of last year decreased by almost three times compared with 2017. Experts attribute the decline in investor interest in offices to the rising cost of construction, bank loans, and taxes. Exacerbates the situation and the lack of suitable construction sites in the capital.
At the same time, experts noted, the demand for office real estate increased. For 2018, they rented and bought 2 million square meters of space, which also became a record figure. The reduction in vacant offices at the end of last year led to a 5–10% increase in rental rates. And, as analysts say, the growth in demand will continue.
Investors quickly responded to growing demand. Therefore, a twofold increase in new construction is expected. It is scheduled to enter about 400 thousand square meters of space. However, developers are likely to try to speed up the work, knowing that there is a clear revival among tenants, and there is a shortage in some areas of the city. Therefore, the final digits of the input can still grow.
The average rental rate is no longer a guideline. From 2013 to 2018, rates for offices in Moscow have not changed - a difference of 1%. But the difference between the rates of different objects is too great. For example, in Okhotny Ryad it amounted to 44 thousand rubles, and in Lianozovo - 20 times less, 2.2 thousand rubles.
In addition, the size of rates in different locations is influenced by the development of transport infrastructure, the presence of large tenants. For example, rates rose markedly in Moscow-City (14%), in the area of Technopark station (19%), where transport accessibility improved. As for MIBC, another factor also played its role. ILM managing partner Andrei Lukashev noted that, after large companies, state banks and ministries have moved there, the interest in this property in the Moscow City will only grow.