In the second quarter of 2011, the number of deals on renting and buying office space has reached peak performance, comparable to the pre-crisis. By estimates of Cushman & Wakefield (C & W), the amount of absorption in Moscow during the period amounted to 529 000 sq. km. m, in the first half – nearly one million “squares”. At the end of this year, brokers expect the market to new record offices: in their forecasts, the capital will be rented and bought about 2 million square feet. m
- Apartments in the most elite buildings will end in autumn 2012
Analysts said C & W, in the history of commercial real estate market in Moscow, higher activity was detected only tenants in early 2008. Then the amount of absorption in the first quarter amounted to 548.3 thousand square meters. m for the second – 521.9 thousand square meters. m
Renewal of tenants and buyers head of market intelligence office and warehouse properties Jones Lang LaSalle (JLL), Olga Rybakova explains the overall positive economic situation. “Anticipating future growth rates, companies are now trying to choose a good office space, to combine them all their structures,” – she said.
According to the deputy head of research at C & W Lada Belaychuk, the overall level of vacant space in existing buildings does not change. “Almost all the tenants after moving to free his old room,” – she explains. However, new facilities, leaving half empty on the market, greatly increase the amount of vacant space in the market. According to JLL, class A, it reached 22.2%. “This high level of vacancies caused by one object – Vivaldi Plaza, which is now free to 70%,” – said Rybakov.
Active tenants and raised prices on the office market. In the second quarter rental rates in Class A reached 1.1 thousand dollars for 1 sq. km. m in B + – $ 800 mark in Colliers International. Average rental rates in Class A for the year grow by 20-30%, I am sure Deputy Director, Office Agency Knight Frank Nicola Obaydin.
Until the end of the year consumers will not wind down, brokers believe. Support activity will be limited supply in Moscow and the illusory prospects of a new office building. With this volume agiotage absorption for the year could reach 2 million square feet. m, predicted to C & W. For comparison, before the maximum was recorded in 2008 – 1.75 million square feet. m, last year it was 1.3 million square feet. m
Apartments in the most elite buildings will end in autumn 2012
Apartments in new buildings of Moscow’s most elite – in the Ostozhenka and Patriarch’s Ponds – can be fully completed in the next 6-14 months – the fall of 2012. This is the conclusion analysts Chesterton.
“As of October 2009 initial offer luxury apartments in the Moscow market was little more than two thousand units. To date, was sold 45.5% of the initial flow, it should be noted that significant additions in the form of new projects during this period no happened “- says in a statement.
The offer luxury homes in Ostozhenka, while maintaining the current level of sales is completely depleted within 14-15 months, and at Patriarch’s Ponds, and now serving even faster – within 4-6 months, stated in a press release.
The experts stress that the safety facilities in Khamovniki enough for another 5-6 years.