From January to March 2022, commissioning of offices in Moscow reached 13.4 thousand square meters only. This represents a 95.7% decrease of the new supply year-over-year.
The total amount of high quality office spaces on the Moscow market reached 17.6 million sq. m, up by 1.7% in annual terms. Of this volume, 29% are class “A”, while the remaining 71% are class “B”.
As to the vacancy rate at the end of the quarter, this indicator reached 9.8% in the offices of class “A” and 5.8% in those of class “B”.
The market supply of new or renovated office spaces is a key factor shaping the market potential for professional office furniture, in short to medium terms. We are tracking this indicator more closely, including particular office buildings and business centers commissioned and under construction, within our extended Market Reports.