Skip to main content Skip to footer

2019| Russia | Moscow | Office

Download Report
In 2019, the volume of commissioned office space amounted to 388 105 sq m, three times higher than the previous year. At the end of the year, the vacancy rate in class A office buildings was 8.7%, which in absolute terms corresponds to 382 000 sq m. Since the beginning of the year, the share of vacant space decreased by 3.6 p.p. In class B offices, vacancy for the year decreased by 3.0 p.p. and by the end of 2019 amounted to 4.6%, which corresponds to 664 000 sq m. These are the lowest vacancy rates in the entire history of the market both in class A and in class B+/-. In 2019, the market continued to change direction from the “tenant/buyer market” to the “lessor/seller market”. A growing number of owners are reviewing commercial conditions upwards. At the end of 2019, in class B+/- offices, the average weighted requested rental rate was 14,602 roubles/sq m/year. In class A offices, the weighted average rental rate returned to that of 2017 and amounted to 25,510 roubles/sq m/year. In 2019, the total amount of rented and purchased office space amounted to 1,621 000 sq m, which is 6% higher than the previous year. At the end of 2019 the share of foreign investments amounted to 40%, while in 2018 the figure was 43%. The Moscow region maintains its traditional leadership in terms of investment, accounting for 58% of total annual investment, or $1,464 million.

2019| Russia | Moscow | Office

Download Report
Related Experts

Veronika Lezhneva

Director | Analytical Department

Russia

‚Äč14 years of professional experience, including 12 years of real estate research in the leading consulting companies.

2006-2008: regional analytic in Russian-based development company. Scope of work included retail analysis in Russian cities and preparation of the strategy for land acquisition in regional cities for retail purposes.

2008-2013:  I started as a senior analyst in Jones Lang LaSalle St. Petersburg, created and headed research department, that focused on office, retail and warehouse research. In 2010 - promoted to Associate Director.

Since May 2013 I'm heading newly created Research department in Colliers St. Petersburg, covering six fields of analysis: retail, office, industrial, elite residential, hotel, and investments.

Since beginning of 2016 heading Research department Colliers Russia.

View expert

Vera Zimenkova

Regional Director | Corporate Solutions Department

Russia

At my current position I am responsible for creation and implementation of workflow schedule for my team, formulating goals and targets, authouring recommendations, leading key meetings with clients.

View expert

Francois Nonnenmacher

Director | Occupier Representation Department

Moscow

Francois joined Colliers at the start of 2005 and has over 15 years of experience in the Russian Real Estate market.  His combined experience of the office solution and real estate business provides him with valuable insights into the whole office cycle process.  His core competencies include deal sourcing, analysis and transaction management.

View expert