30.04.10
CB Richard Ellis prepared a new Moscow Office MarketView as of Q1 2010. According to the report, the rise in a Class A delivery volume will become one of the main trends on the market in 2010.
We have observed the following features:
∙ almost 220,000 sq m of office space was delivered in Moscow during Q1, Class A share being almost 70% of the delivery volume;
∙ the volume of deals closed on the market during Q1 2010 was 375,000 sq m;
∙ vacancy for Class A remained at 26%, Class B vacancy rate amounted to 18.5%.
With new delivery forecast to be constrained during 2010, vacancy will start to fall and this will keep average rents stable.