- 20/03/2019 - 17:29
The total number of square meters of new office space added to the market in 2017 is estimated at 380,000 square meters. Despite the increased growth rates in the last quarter, the total volume of new construction for the year surpassed the volumes of the previous year by only 9%.
In 2018, according to our forecast the supply rate will remain the same, as compared to 2017. As announced by the developers, we expect about 350,000 – 400,000 sq.m for delivery this year. Development activity will remain low: the total volume of the expected office space will to the greater extent be determined by the projects which delivery was postponed earlier.
Total net absorption in 2017 made up 984,000 sq.m, which doubles the results of 2016, when the positive net absorption was mostly based on several large transactions.
