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Moscow Office Market Snapshot October 2009
19 Nov, 2009, Moscow
Mark POLLITT, Partner, Head of Office Agency, C&W/S&R:
“The statistics for October are the first empirical sign that the office market in Moscow is showing signs of stabilization. Even though we have felt that the market has been busier over the last 6 – 8 weeks, the statistic that more space was leased than delivered is good news.
Despite the continuing pressure on rents and the time taken to negotiate deals, stabilization should bring forward occupiers decisions to transact.
The best located and competitively priced buildings continue to show the strongest levels of tenant interest in both Class A and Class B sectors.
We will need to see whether the volume of deals to be closed in November and December can be maintained and set a trend over the full quarter”