The first three months of 2012 were characterized by a small volume of new construction, high activity on the part of tenants, a continuation of the decline in the vacancy rate and stabilization of rental rates.
In Q1 2014 the total volume of quality office space in Moscow reached 15,5 mln. sq. m. Within the first three months of 2014 299 thousand sq. m have been commissioned, which is 6 % more than at the same period last year.
Net absorption of office space during the first three months remains low, but nevertheless it demonstrates a positive trend. Thus, the volume of net absorption increased by 8 times compared with the same period last year, and at the end of Q1 2014 it comprised 151 thousand sq. m.
The first quarter of 2017 has seen zero new supply, which has become an anti record for the last 10 years of collecting and tracking down market data.
The total number of square meters of new office space in 2017 is expected to be the lowest and will not exceed 450,000 square meters as announced by the developers.
The largest projects, however, will continue to be pushed back, and the new supply may actually turn out to be even lower.
Early 2016 was characterized by a further decline in development activity. Over the first three months of the year, only 81K sq. m of new office space was brought to the market, this being 3.7 times less than in the same period last year.
The total market volume for Q1 2018 - 20.4 million sq.m.
During the quarter was introduced 48 thousand square meters of new office space. The volume of increase in new supply will be 10-20% less than in 2017.
The average vacancy rate in the market average in March decreased by 30.9 percentage points.
The pace of new construction remained high. Despite the difficult economic situation, properties with a high readiness stage are being completed and brought to market. The generation of excess supply continues.
The total net absorption volume which shows the change in occupied office space has fallen to a negative value due to vacancies in Class B properties in the context of the economic crisis.
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.