In 2018, completions volume amounted to 133,300 sq m of office space. This value is comparable to the new supply volume in 1999 (130,000 sq m), thus it is the minimum for almost 20 years of Moscow office market development.
Take-up accounted for 1.45 mln sq m in 2018, which is the maximum value for the last 10 years. Take-up volume increased by 13% YoY (1.28 mln sq m in 2017).
In Q4 2018, after almost 5 years of stagnation there was an increase of rental rates for certain office buildings: a reduction of vacant supply, low new completions volume and high demand for quality premises formed local deficits and led to rental rates increase in certain class business centres at some submarkets.