Moscow office market report, Q4, 2011

Despite the unstable situation in the global financial markets, which weakened the real estate markets of most countries, positive trends were observed in the Moscow real estate market. This is evidenced by a record increase in the volume of investments, an increase in the volume of absorption of office space and a gradual increase in the level of rental rates. At the end of 2011, the increase in supply of quality office space was the lowest in recent years, which, with stable demand from tenants, led to a reduction in the share of vacant space and, consequently, an increase in rental rates, primarily in high-quality facilities.