Vacancy rates as of the end of Q3 2018

With the low growth rates of supply and stable demand, the level of vacant office space continued to decline.

According to the results of the Q3, net absorption exceeded the volumes of new construction almost 5 times. As a result, the share of unoccupied premises within three months decreased by 0.4 percentage points. and reached 10.3% on average for all classes. Compared to the beginning of the year, the vacancy in the market as a whole decreased by 2.0 percentage points.

Thus, at the moment there are free 2.1 million square meters of office space. Against the background of the emerging shortage of quality space, we observe the unwillingness of many owners to make concessions to tenants.

Moreover, the conditions of the "tenant" market are more and more replaced by the trends of the "lessor" market.