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2019| Q1 | Russia | Moscow | Office

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The total area of high-quality office space completed in Q1 2019 amounted to 27,500 sq m, which is 26% less than during the same period of 2018. The vacancy rate in Class A office buildings decreased and amounted to 11.6%, or 489,000 sq m.  The area of vacant space in Class B+/- office buildings decreased also. At the end of Q1 2019, the corresponding value was 956,000 sq m, which in turn amounts to a vacancy rate of 6.8%. The weighted average rental rate decreased by 0.7% to 26,515 rub/sq m/year in Class A offices buildings and by 1.5% to 14,867 rub/sq m/year in Class B+/- offices buildings. According to figures from Q1 2019, the total volume of leased and purchased office space amounted to 312,900 sq m, which is comparable with the figure for 2018. While last year leaders among tenants were all companies from the IT and retail sectors, in Q1 2019 newly emerging companies of the banking sector (21%) were important, like 2-3 years ago.

2019| Q1 | Russia | Moscow | Office

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