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Moscow Office Market Snapshot September 2009
18 Sep, 2009, Moscow
Andrey MALKOV, Analyst, Research Department, C&W/S&R:
“During the last several months we see the increase of demand for office space. Big deals (over 2000 sq m) came back to the market. The recent increase of tenant’s activity is caused by great fall of rental rates. Low rental rate activates demand from the companies who would like to benefit from favorable market situation. Before crisis over 60% of the overall demand was supported by foreign companies. Current level of demand maintains mainly Russian companies. Not many of them are wealthy and the demand for office space in 2010 is limited.”
“During the last several months we see the increase of demand for office space. Big deals (over 2000 sq m) came back to the market. The recent increase of tenant’s activity is caused by great fall of rental rates. Low rental rate activates demand from the companies who would like to benefit from favorable market situation. Before crisis over 60% of the overall demand was supported by foreign companies. Current level of demand maintains mainly Russian companies. Not many of them are wealthy and the demand for office space in 2010 is limited.”
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