Analytics - Business-centers

May was marked by the revival of demand. In spite of negative predictions about the 2nd wave of the crisis, companies are still in search for new offices and are ready to enter new lease negotiations. / Source: Cushman & Wakefield
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All commercial real estate rents decreased in 2009 by 30-50%. Decrease of rents played a positive role for business in general, because it helped tenants to control their costs during difficult period. / Source: Cushman & Wakefield
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During Q3 the Moscow office market saw positive trends in take-up, a moderate level of delivery and a decline in vacancy in the central areas of the city. / Source: CB Richard Ellis
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In the face of a global economic downturn, office markets around the world posted decidedly weaker results at year-end compared with just six months prior. All regions of the world are now experiencing recession, or recessionary like conditions and as a result demand for office space is substantially reduced, according to Colliers International Global Office Real Estate Review 2009. / Source: Colliers International
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In 2008, supply of high quality office space increased by 1,7 mln. sq. m. The share of class A properties amounted to 30%, and that of class B properties to 70%. Total supply volume of newly built and reconstructed space amounted to 8,3 mln. sq. m. by the end of the year. The delivered space amounted to more than half of the announced volume: due to traditional delays of delivery as well as due the outbreak of the financial crisis in September 2008. / Source: Blackwood
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The effects of the global financial crisis have been profound on Russia’s real estate market. The immediate outcomes have been: a sharp decline in demand, lower development activity, growing vacancy rates and decreased rental rates. For the real estate sector as well as for many other sectors of the overall economy, the end of 2008 coincided with the end of a long period of growth. The many development projects which have been delivered recently on the Moscow office market, combined with the sudden decrease in demand, have changed it from a strong Landlord market to a Tenant market. / Source: CB Richard Ellis
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The Kyiv office market in 2007 continued to follow the previously announced trends. New supply in the office segment was quite comparable to the previous year’s figure, reaching approximately 172,000 sqm. The positive macroeconomic situation in Ukraine led to a 10.2% increase in industrial production, which in turn contributed to a further increase in demand and resulted in take-up of approximately 250,000 sqm.  / Source: Colliers
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The effects of the deteriorating macroeconomic situation on the Moscow office market are becoming clearer, even as they continue to develop, and will be keenly felt for at least the first half of 2009. At the very end of 2008 it is worth examining the latest developments on the market to be able to make a short term forecast for 2009. / Source: CB Richard Ellis
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The third quarter of 2008 saw slower growth of the office market, with lower volume of new international quality supply, fewer announced projects, a number of frozen construction projects, therefore stalling the growth of rental rates and sale prices. / Source: Praedium
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If 2 weeks ago we only just started anticipating decreases in rents, now this trend is apparent with rental rates and prices falling rapidly. / Source: Cushman & Wakefield | Stiles & Riabokobylko
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In Q3 2008 office real estate market fell under slowdown on key characteristics (demand, supply, vacancy rate and rental rates). Occupancy rate of existing business centers is high, but one can see stock out of demand in projects under construction. Combined with difficulties in attraction of financing it influenced terms of delivery – most of projects announced to be delivered in Q3 were delayed. Requested Ruble rental rates slightly increased, wearers in view of strengthening of the US dollar requested USD rates even went down. / Source: ÑB Richard Ellis
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The Kiev office market is maturing, with developers becoming more sophisticated and new projects growing in quality and size. However, even with some large projects delivered in early 2008, the office market remains undersupplied. At the same time, many new projects have been announced and if completed by 2011, could more than triple the modern office stock. / Source: Jones Lang LaSalle
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The St. Petersburg office stock is significantly smaller than in other large European cities, reflecting the development stage of the market. / Source: Jones Lang LaSalle
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 / Source: Cushman & Wakefield | Stiles & Riabokobylko
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In contrast to and despite the weak global growth, the Russian economy continues to develop at an impressive pace in 1H 2008. / Source: ÑB Richard Ellis
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In H1 2008, the real estate market for office premises continued its steady growth as demonstrated by all basic indices: demand, supply, vacancy rate and rental rates. The distinguishing characteristics of the St Petersburg office market are the high level of occupancy in business centers, postponement of commissioning (at least 50% of the projects are being delayed for a period of around 6 months on average) and the growth of rental prices, which are running ahead of inflation. / Source: ÑB Richard Ellis
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One of the effects of the credit crunch on the Moscow Office Market has proven to be a lack of financing for current projects under development. Due to the uncertainty surrounding the delivery schedule for office space, CBRE Moscow has checked each property announced for delivery during 2009. As a result of this survey we confidently forecast that out of 2.7 mln sq m, announced by developers previously, only 1.5 mln sq m will in fact be delivered in 2009, equal to delivery in 2007 and 25% below 2008 levels. / Source: ÑB Richard Ellis
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The office market is characterized by high rates of development. The last three quarters showed an increase in investment activity. This growth includes general investments as well as interest from international investment funds. The rate of the current yield of investment acquisitions is 9.5 – 10%. / Source: Praedium
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Seasonal Russian holidays in the beginning of May caused the slowdown in business activity in Moscow – take up reduced by 20%, while rental rates in the main business districts of Moscow remained stable or declined compared to the previous month. / Source: Stiles & Riabokobylko
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The office clock illustrates short-term trends in prime face rental values in the prime location within each market. It does not aim to represent all sub-markets of an individual city or changes in the level of incentives offered to occupiers. / Source: Jones Lang LaSalle
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