In Q2 2019, 92,200 sq m of office space was commissioned, which is the highest quarterly value for the past 18 months since Q4 2017 (312,300 sq m.). In H1 2019, the total quality office space supply in Moscow grew by 119,700 sq m, which is 3 times the increase recorded in the same period in 2018 (39,400 sq m.).
The overall vacancy rate has stabilized at 11.3%, which is comparable with both late H1 2018 (11.5%) and late 2018 (11.2%).
In H1 2019, take-up amounted to 640,000 sq m, which is only 6% less than in January-June 2018 (682,100 sq m). Class A accounted for a third of take-up volume (33%, or 210,000 sq m), which is comparable to the same period last year (35%).
Asking rental rate ranges remained unchanged and were 750-850 USD/sq m/year for Class A Prime offices, 18,000-30,000 RUB/sq m/year for Class A offices, 12,000-21,000 RUB/sq m/year for Class B offices. All rates are exclude operating expenses and VAT.