Office market report Moscow
|
|
- Valentine Brown
- 6 years ago
- Views:
Transcription
1 Research Q1 215 Office market report Moscow Highlights Delivery volume of quality office space in Q1 215 was 91 thousand sq m that is 6% drop compared to the previous indicator. Share of lease renegotiations in the total transactions volume has reached 86%. Average asking rental rates have dropped to the level of 53 $/sq m/ in Class A and 39 $/sq m/ in offices.
2 Office market report. Moscow Office market report Moscow Key indicators. Dynamics* Class A Total stock, thousand sq m 14,852 including, thousand sq m 3,495 11,358 Delivered in Q1 215, thousand sq m 9.7 Konstantin Losiukov Director, Office Department Knight Frank With declining take-up and record-high vacancy rate, today s office real estate market is characterized by extremely fierce competition. Landlords are seeking to offer the most favourable lease terms, but only high-quality offices in a good location with efficient layout and attractive commercial terms are in demand. including, thousand sq m Vacancy rate, % Average weighed asking rental rate** $/sq m/ rub/sq m/ 29. (-.8 p. p.)* 53 (-1%)* 27,93 (-1%)* 16.7 (+1.4 p. p.)* 39 (-1%) 16,769 (-2%)* Rental rates range** $/sq m/ 3 1, Average OPEX rate, rub/sq m/ 4, 6,7 2,5 4,5 * Compared to Q4 214 ** Excluding operational expenses utility bills and VAT (18%) As rental rates are falling, the lease renegotiation has become the dominant type of transactions in the Moscow office real estate market. There are examples where companies that signed lease contracts last renegotiate them in 215 to reduce rents or revise other lease terms. Otradniy (phase II), 2B, Otradniy passage 2
3 Q1 215 Research Key office projects delivered in Q1 215 and due to be commissioned by the end of 215 Pallau RB 3, sq m Rublevskoe Hwy Kuntsevo Plaza 22,761 sq m Leningradskoe Hwy Volokolamskoe Hwy NEOPOLIS 43,6 sq m G1 (phase I) 38, sq m K2 (phase II) 18,22 sq m Dmitrovsoe H w y Bolshevik (phase I) 28,9 sq m Leninskiy Ave Altufievskoe Hwy Evolution Tower 79,53 sq m GR Suvorov Plaza Smolenskiy Passage 17,224 sq m IQ-quarter 11,452 sq m 122,45 sq m Oazis 39,493 sq m Slobodskoy TTR 9,5 sq m Algoritm 26, sq m Profsoyuznaya St Otradniy (phase II) 37, sq m Sirius Park 64,14 sq m Oruzheiniy 88, sq m Danilov Plaza 25,818 sq m Varshavskoe Hwy Kutuzovskiy Ave Business Centres Class А existing Suvorov Plaza 17,224 sq m under construction Evolution Tower 79,53 sq m Entuziastov Hwy Ryazanskiy Ave Volgogradskiy Ave Concentration of office space inside GR; 19% between GR and TTR; 34% outside TTR; 47% Class В existing under construction Knight Frank exclusive/ co-exclusive consultant ТТК IQ-quarter 122,45 sq m Supply In Q1 215, the total supply of highquality office space in Moscow has reached 14.8 million sq m, with Class A and offices accounting for 3.5 million sq m and 11.3 million sq m, respectively. After decrease in supply in 214, the delivery of new office space dropped 6% in Q on-, to just over 9, sq m. The Evolution Tower in the Moscow City business center was the only Class A office building delivered in Q Demand The net take-up of quality offices in Moscow was 37, sq m in Q1 215, 2% below the same period last. Lease renegotiation is the dominant type of transactions in the current market environment. Tenants having foreign currency agreements start renegotiating the lease terms to fix the exchange rate for the period of 1 2 s. Apart from changing the contract currency, tenants who signed lease contracts in a stable or growing market also seek to reduce their rental rents. As a result, lease renegotiations has totalled 86% of all transactions in Q Distribution of deals by location * Office properties that received the delivery act in Q1 215 The building class is indicated according to the Moscow Research Forum Office Classification of 213 % 1 4% 11% Delivery volume dynamics for Class A and B offices 8 29% 17% thousand sq m % 2, 25 1,8 1,6 2 1,4 1,2 15 1, F 216 F Class А Class В Class A and B inventory growth New lease 43% 24% Lease renegotiations 42% 3% district Between TTR and Between GR and TTR Inside Garden Ring 3
4 Office market report. Moscow Tenant mix Key office space lease and purchase transactions closed in Q % 4% 3% 6% 33% Leningradskoe Hwy Dmitrovskoe H w y Altuf'evskoe Hwy Yaroslavskoe Hwy 15% 26% Volokolamskoe Hwy Baker Tilly Russaudit 85 sq m TMT* Business Services FMCG & Pharmaceuticals Banking & Finance Architecture & Construction Manufacturing Oil / Gas / Mining Krylatskiy Rublevskoe Hwy Solar Turbines CIS 482 sq m FCm Travel Solutions 677 sq m CBRE 1,23 sq m Novodmitrovskiy Streletskaya Sloboda Diamond Hall GR Fond Razvitiya Dalnego Vostoka 59 sq m ОКО Naberezhnaya Tower GE 733 sq m Capital City Silver City TTR Imperia Pharma 42 sq m MEDA Pharma 669 sq m Arma ABD 693 sq m Pioneer 462 sq m Ryazanskiy Ave * TMT technology, media and telecommunication Vacancy rate, which had been rising throughout 214, totaled 29% for Class A office buildings in Q The vacancy rate in the office market was 16.7%. Since 213, there has been a tendency for companies seeking to reduce rental costs and move to higher-quality premises, which made them look for office space near the Moscow Ring Road. However, the falling market has changed the direction of this decentralization trend. Businesses are still keen to reduce rental costs and mostly consider offices outside the Garden Ring. However, with the rents falling, they can afford less distant options with rates almost the same as the ones for offices of similar quality near the Moscow Ring Road: properties located near the Third Transport Ring accounted for the largest number of office lease deals (43%) in Q As for the distribution of demand by company type, the largest volume of lease and sales transactions across Class A and B offices was completed by TMT companies, which had been among the key occupiers of high-quality office space in Moscow for a long time. In the current environment, when the number of deals is low, the market share of one or another tenant or buyer type does not give an objective Dynamics of delivery, take-up and vacancy rates of Class A and B offices thousand sq m Class A % 8 36.% % % Leninskiy Ave F Take-up Profsoyuznaya St Varshavskoe Hwy Delivery Kashirskoe Hwy 11.5% Concentration of office space take-up outside TTR; 33% 15.3% Vacancy rate 17.% F between GR and TTR; 43% inside GR; 24% Office centres located on the outside of the ring within the 5 m distance belong to the proximate ring submarket Knight Frank acted as a consultant of the transaction
5 Q1 215 Research picture. Nevertheless, we can point out that the highly volatile oil prices and the sanctions against the Russian economy translated into oil and gas companies and banking businesses accounting for only a small proportion of the demand. Commercial terms The weighted average rental rate in the Class A office market, which is calculated on the basis of asking rental rates for vacant office space, went down by 1% from the previous quarter, to 27,93 rub/sq m/ (triple net). For the Class A offices with US dollar-denominated rents, the decrease was also about 1%, to 53 $/sq m/ (triple net). For offices, the asking rents have decreased to the level of 16,769 rub/sq m/ (triple net), or 39 $/sq m/ ( 1%). Today a large number of landlords are ready to surrender and propose rental rates in rubles, fixing the exchange rate and providing a currency band. However, a few owners of Class A offices are ready to revise the commercial terms for the entire duration of the contract: just 12% of Class A vacant office premises were available on such terms as of the end of Q More often, landlords agree to provide rental rates fixed in Russian national currency for the first two s, after which they are planning to switch back to a foreign currency. Average asking rental rates dynamics for Class A and B offices denominated in RUB rub/sq m/ 4, 35, 3, 25, 2, 15, 37,311 21,143 21,284 23,86 12,77 Average asking rental rates dynamics for Class A and B offices denominated in USD 24,398 13,821 14,11 Class A 25,885 25,525 15,9 15,698 3,144 17,15 26, 15,7 1, F $/sq m/ 1,6 1,5 1,4 1,2 1, F Class A G1 business park, 1 st km of Kievskoe Hwy 5
6 Office market report. Moscow Forecast Despite the recent stability of the Russian ruble and oil prices, office market players are still very cautious. Almost 1 million sq m of quality office space is due to be delivered in 215; however, most likely, the current state of the office market will force the developers to hold over the deadlines. We do not expect the owners to put on hold construction of the projects scheduled for delivery by the end of the, but the current environment will probably make them suspend those that are at the initial construction or project stages. It should be noted that about 13, sq m of office space is expected to be delivered in 215 in the territory of New Moscow near. A number of construction projects in this area were announced in 212, after the Moscow territorial expansion plan has been unveiled. However, with the current state of the office market, the landlords are likely to open these properties without having lease contracts signed. A similar situation is observed in the Moscow City business district, where almost half of the office space remains vacant. In 215, the vacancy rate in this district will continue increasing, because, as reported earlier, 2, sq m of Class A office space is due to be completed in 215 in addition to the 2, sq m delivered in 214. As the market is still unstable, the volume of transactions will be mainly formed by lease renegotiations, with the net takeup remaining at a low level. Taking into account the volume of offices to be delivered in 215, the vacancy rate will continue rising. We estimate that for Class A offices this figure may exceed 35% by the end of the. Research Olga Yasko Director, Russia & CIS olga.yasko@ru.knightfrank.com Offices Konstantin Losiukov Director konstantin.losiukov@ru.knightfrank.com +7 (495) 981 Knight Frank LLP 215 This overview is published for general information only. Although high standards have been used in the preparation of the information, analysis, view and projections presented in this report, no legal responsibility can be accepted by Knight Frank Research or Knight Frank for any loss or damage resultant from the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank in relation to particular properties or projects. Reproduction of this report in whole or in part is allowed with proper reference to Knight Frank. Moscow submarket data. Key indicators 6 Submarket Lease Area, thousand sq m Class A Average rental rates $/sq m/ rub/sq m/ Vacancy Rate, % Average rental rates $/sq m/ rub/sq m/ Vacancy Rate, % Boulevard Central business Ring district , ,59 1. South , , Garden Ring West , ,19 7. North ,733 3, ,363 24, East , , Leninskiy , Tulskiy , Khamovniki , , Kievskiy , , Presnenskiy , , Third Prospekt Mira ,583 33, ,825 2, Transport Ring Tverskoy , , Novoslobodskiy Basmanniy , Taganskiy , Volgogradskiy 383-3, , MIBC Moscow-City , North , , TTR- South 1, , , , ,779 West 1, , , East , North ,4 17. South , , , ,358 West 1, , , East Total 14, , ,
report Moscow Q Vacancy rate has reached the level of 22.5% in Class A and 17.6% in Class B office buildings in sum indicating 2.9 million sq m.
Research Q1 Office market report Moscow Highlights In Q1 new delivery volume has decreased to historically low level of 63 thousand sq m. Vacancy rate has reached the level of 22.5% in Class A and 17.6%
More informationOffice market report Moscow. Research. Highlights
2015 Office market report Moscow Highlights The volume of Class A and B office space delivered in 2015 fell by almost half comparable to 2014 and reached 721 thousand sq m. The take-up volume amounted
More informationOFFICE MARKET REPORT RESEARCH Q Moscow HIGHLIGHTS. The delivery volume of quality office space totaled 37 thousand sq m by Q results
RESEARCH Q1 2018 OFFICE MARKET REPORT Moscow HIGHLIGHTS The delivery volume of quality office space totaled 37 thousand sq m by Q1 2018 results The vacancy rate came up to 15.2% in Class A offices and
More informationOFFICE MARKET REPORT RESEARCH Q Moscow HIGHLIGHTS
RESEARCH Q3 2017 OFFICE MARKET REPORT Moscow HIGHLIGHTS The delivery volume of new office centres in 2017 remained at the lowest level as just 96,000 were put into operation within 9 months of 2017 2.5
More informationWAREHOUSE MARKET REPORT
H1 2017 WAREHOUSE MARKET REPORT HIGHLIGHTS The total warehouse stock delivered in H1 2017 fell by one half to 135,500 sq m year on year. The Q2 vacancy rate came up to 11.7% about 1.5 million sq m in absolute
More informationKey Market Indicators. Supply. Demand
milliom sq m thousand sq m number of objects Key Market Indicators Total stock 17.2 million sq m Completion 74,6 sq m Vacancy rate 11.2% Take-up 423, sq m Rental rates in Class A* $44/sq m/year, in Class
More informationCITY MARKET 29% 11% 12% 27% 63% 28% $15,000 $21,630 $15, sq m < $2 million KEY INDICATORS SUPPLY AND DEMAND DYNAMICS
Property in numbers MOSCOW 214 CITY MARKET SUPPLY AND DEMAND DYNAMICS Supply Apartments share, % The average price on the new-builds market, $/sq m The number of transactions per month * Total supply (flats
More informationOffice Market Report Moscow. May Supply. Increase in supply. at the end of May Increase in supply
Office Market Report Moscow. May 2015 Supply In May, 2015, the overall market for quality office space in Moscow reached 17.9m sqm and amounted to 3.8m sqm (21%) of Class A offices and 14.0m sqm (79%)
More informationOFFICE MARKET MOSCOW Q Key market indicators. Supply
MOSCOW Q1 2018 OFFICE MARKET Key market indicators Q1Q 2016 Q1Q 2017 Q1Q 2018 Completions, thousand sq m 274.4 95.7 94.5 Takeup, thousand sq m 809.2 789.2 972.6 Vacancy rate, % 1.7 11.2 9.2 Class A 18.5
More informationOffice market review MOSCOW OFFICE Q Supply. Key market figures. Completions, thousand m² of GLA. Largest buildings completed in Q3 2015
MOSCOW OFFICE 25 Office market review Supply The total supply of high-quality business centers in Moscow has reached 6.4 million m² in 25. Since the beginning of 25, the volume of the existing premises
More informationOffice. Moscow. Supply. Key market figures, H Top 5 largest buildings completed in H Dynamics of take-up and completions, thousand m 2
Office. Moscow Key market figures, 214 Supply INDEX VLUE Total stock, million m 2 15. Grade 3. Grade B 12. Take-up, m 2 51, Net absorption, m 2 161, Vacancy rate, % 11.5 Grade 25. Grade B 8.2 Prime Headline
More informationOFFICE MARKET MOSCOW Q Key market indicators. Supply
MOSCOW Q1 218 OFFICE MARKET Key market indicators Q1 216 Q1 217 Q1 218 Completions, thousand sq m 63 21 37 Take-up, thousand sq m 185.7 139.2 322.9 Vacancy rate, % Class A 21.9 17. 13.1 Class В+/- 1.9
More informationOffice market report Moscow. research. highlights
research 213 report highlights About 888 thousand sq m of Class A and B offices were delivered that year (justifying the last year's forecast). It is almost 4% more than in 212 and is the highest value
More informationОбзор рынка офисных помещений. 2011
www.ilm.ru; Пресненская наб., 1, Блок С, тел.: +7 (495) 287 6 Main indicators, Q1 214 Increase in supply in Q1 213* Net absorption, Q1 213 г. * thousand 25 229 thousand 16 151 2 156 14 12 15 1 1 5 68 5
More informationRETAIL MARKET REPORT RESEARCH H Moscow HIGHLIGHTS
RESEARCH H1 218 RETAIL MARKET REPORT Moscow HIGHLIGHTS Based on results of the first half of 218 in Moscow three shopping centres were commissioned with total leasable area of 97,5 sq m. The dynamics of
More informationMoscow office market overview
office market overview 211 The recovery of the office market continued in 211. completion volume was 198,8 sq m. Several large deals were signed. Prime rents reached USD 1, per sq m per year, a 11% growth
More informationMoscow Industrial Big Box MarketView H1 2013
Moscow Industrial Big Box MarketView H1 213 CBRE Global Research and Consulting NEW SUPPLY 137,22 SQ M PRIME RENTAL RATES $14 / SQ M / YEAR VACANCY 1,6% HOT TOPICS More than 7, sq m of class A warehouses
More informationQ Knight Frank OVERVIEW. EXECUTIVE Summary. Saint Petersburg
OVERVIEW Q3 2011 Knight Frank EXECUTIVE Summary Positive trends presented in the warehouse real estate market of in H1 2011 were also noticed in Q3 2011. Thus, rental rates continued to grow after a certain
More informationPRIME RESIDENTIAL REAL ESTATE MARKET REPORT Saint Petersburg RESEARCH HIGHLIGHTS
RESEARCH 2015 PRIME RESIDENTIAL REAL ESTATE MARKET REPORT Saint Petersburg HIGHLIGHTS The demand for prime housing settled down at rates of previous years and amounted to 67 thousand sq m (497 flats) at
More informationOFFICE MARKET REPORT RESEARCH. Saint Petersburg HIGHLIGHTS
2017 OFFICE MARKET REPORT Saint Petersburg HIGHLIGHTS The level of vacant office space remained within 7-8% during the year 2017, going down less than 1 p. p. by the end of the year if compared to 2016.
More informationKnight Frank. overview. Moscow
overview 21 Moscow Knight Frank Executive Summary Growth in supply of Class A and Class B offices is still slow, mainly due to difficultly obtaining financing for new projects and cautious attitude of
More informationAfter a one-year pause new warehouse properties for rent entered the market, all of them were delivered in H
RESEARCH 2012 Saint Petersburg Knight Frank HIGHLIGHTS After a one-year pause new warehouse properties for rent entered the market, all of them were delivered in H1 2012. Vacancy rates have achieved its
More informationreal estate market Moscow
prime Residential real estate market Moscow Highlights High activity of developers. 15 complexes were put on the market since the beginning of, 4 of them were reserved for private sale. Thus, the number
More informationOFFICE MARKET REPORT Moscow Q Knight Frank RESEARCH HIGHLIGHTS
RESEARCH Q3 212 Knight Frank HIGHLIGHTS The new construction volume of quality office centers remains low. During 9 months of 212, 152 thousand sq m of Class A and 242 thousand sq m of Class B office space
More informationResearch. Moscow. Redevelopment shall be required in more than 40% of Moscow retail space by 2020.
Research 216 Retail Market report Moscow Highlights The retail space growth has remained high for the third consecutive year. Redevelopment shall be required in more than 4% of Moscow retail space by.
More informationDiamond Hall А Midland Development 61,500 38,000. Linkor B Agrostroy 62,040 31,256. Leipzig B Leipzig Fashion House 17,893 17,893
Office Sector Q1 2011 was characterized by a relatively low amount of commissioned office space, vacancy rate reduction, and stabilization of rental rates. At the same time, Moscow was number one in terms
More informationPRIME RESIDENTIAL REAL ESTATE MARKET REPORT
217 PRIME RESIDENTIAL REAL ESTATE MARKET REPORT Saint Petersburg HIGHLIGHTS The start of sales in 4 new properties boosted the supply of prime housing by 1%, which reached 166.4 by the end of the year.
More informationRESEARCH AND CONSULTING DEPARTMENT. November 2011 REAL ESTATE MARKET MONITORING
RESEARCH AND CONSULTING DEPARTMENT November 2011 REAL ESTATE MARKET MONITORING November 2011 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels
More informationRESEARCH AND CONSULTING DEPARTMENT. August 2011 REAL ESTATE MARKET MONITORING
RESEARCH AND CONSULTING DEPARTMENT August 2011 REAL ESTATE MARKET MONITORING August 2011 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels market.......
More informationMoscow Warehouse Market
Moscow Warehouse Market Q3 2015 Market saw a record surge in demand for warehouse space over Q3 2015 The volumes of take-up over the first nine months exceeded 1m sq m (+76% YoY) As a result, the vacancy
More informationPRIME RESIDENTIAL REAL ESTATE MARKET REPORT RESEARCH. Saint Petersburg HIGHLIGHTS
RESEARCH 216 PRIME RESIDENTIAL REAL ESTATE MARKET REPORT Saint Petersburg HIGHLIGHTS 533 transactions were completed in the primary market of elite housing during 216. The annual dynamics of sales reached
More informationAtyrau Market View Residential
Atyrau Market View Residential Q1 2017 Quick Stats Prices Absorption Hot Topics Change from Q4 Q1 Due to the abrupt adjustments in the exchange rate of the national currency, prices and rental rates have
More informationOFFICE MARKET REVIEW
This review is prepared by the experts of ASTERA, an alliance member of BNP Paribas Real Estate / March 2012 OFFICE MARKET REVIEW Q1 2012 2 / COMMERCIAL REAL ESTATE / OFFICE / Q1 2012 ALEXEI RYABICHEV
More informationPRIME RESIDENTIAL REAL ESTATE MARKET REPORT Saint Petersburg RESEARCH H HIGHLIGHTS. Demand sank by 7% against H
RESEARCH H1 216 PRIME RESIDENTIAL REAL ESTATE MARKET REPORT HIGHLIGHTS Circa 1,5 of prime flats (184, sq m) were on sale in H1 216. Start of sales in Royal Park prime complex set off the new elite location
More informationST. PETERSBURG OFFICE MARKET Year-End Review 2016
ST. PETERSBURG OFFICE MARKET Year-End Review 216 KEY MARKET INDICATORS 215 216 Total stock, million 2.49 2.76 > Class A.95 1.7 > Class B 1.54 1.69 Completions, thousand 179 262 Net absorption, thousand
More informationMARKET OUTLOOK MOSCOW & SAINT PETERSBURG
MARKET OUTLOOK MOSCOW & SAINT PETERSBURG Asset management department March 207 The results of Q 207 MARKET STATE : The key rate has decreased to 0% from 9,75% (from 27 march 207). For the period Jan-Feb
More informationRESEARCH AND CONSULTING DEPARTMENT December 2010 REAL ESTATE MARKET MONITORING
RESEARCH AND CONSULTING DEPARTMENT December 2010 REAL ESTATE MARKET MONITORING December 2010 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels
More informationOffice real estate market in Moscow, Q
1 1. Office Real Estate Market Table 1. Major indicators of office real estate market, Q1 2010 Source: GVA Sawyer Major Indicators Class А Class В+ Class В- Volume of quality office premises at the end
More informationRetail Market. Research H Moscow
Research H1 216 Retail Market report Moscow Highlights The total leasable area of shopping facilities opened in Q2 216 amounted to 22.4 thousand sq m (GBA 482 thousand sq m). This is the maximum Q2 value
More informationINDUSTRIAL AND WAREHOUSE MARKET Saint Petersburg
OVERVIEW 2011 EXECUTIVE SUMMARY In 2011, no new speculative warehouse properties entered the market. The vacancy rate kept declining throughout the year. In 2011 rental rates started to grow for the first
More informationResidential Real Estate Review: Moscow, Q
1 Residential Real Estate Table 1. Main indicators of residential real estate in Moscow, Q1 21. Main indicators Forecasted residential real estate commissioning volume in Moscow in 21, mln. sq.m. Estimated
More informationOffice market snapshot
Office market snapshot Moscow 1 st half of 2014 1 Moscow office market Macroeconomics In July 2014 the International Monetary Fund significantly reduced the RF GDP s growth forecast from 1, 3 % to 0, 2%
More information2016 Russia Commercial real estate
216 Russia Commercial real estate Market Overview H1 216 H1 216 Research & Forecast Report Investment market Key results of H1 216 By the end of H1 216, key macroeconomic indicators were showing a certain
More informationMoscow s retail and entertainment real estate market, Q3 of 2009
Moscow s retail and entertainment real estate market, Q3 of 2009 1 Moscow s retail and entertainment real estate market, Q3 of 2009 Retail Real Estate Market Table 1. Major indicators of Moscow s retail
More informationTake-up remains healthy
PROPERTY TIMES Take-up remains healthy Warsaw Office H1 216 August 216 Contents Supply 2 Demand 2 Vacancy rates 3 Rents 3 Definitions 4 Standard lease terms 4 The total office stock in Warsaw stood at
More informationNORTH-WEST WEST PROPERTY DEVELOPER AREA, M 2
Industrial. Moscow Key market figures in 014 INDEX VALUE Total stock, million m 10.93 Completions, million m 1.7 Take-up, million m 1.0 Vacancy rate, % 6.3 Average rental rate, RUB/m /year* 4,500 Average
More informationKEY TOWER SALE highlights start of 2017
KEY TOWER SALE highlights start of 2017 Demand for office space in the Greater Cleveland office market remained strong as 2016 wound down and transitioned into the first quarter of 2017. After netting
More informationNational Presence. Local Focus
Metropolitan DC Market Overview 4Q 214 Overall Market Summary The Washington, DC Metropolitan commercial real estate market is comprised of approximately 41.9 million square feet of rentable office space
More informationKey Market Indicators
Key Market Indicators Q3 Q3 Q3 2018 Total stock, million sq m 2.66 2.84 3.08 Class A 1.03 1.11 1.16 Class B 1.63 1.73 1.92 Completions, thousand sq m 8.4 48.9 24.5 Net absorption, thousand sq m 47.1 19
More informationSecond Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers
Q2 2013 OFFICE SUBURBAN MARYLAND SUBURBAN MARYLAND MARKET REPORT Second Quarter: Suburban Maryland s Uptick in has yet to be Realized in Numbers Updated May 2012 MARKET INDICATIONS Q2 2013 Q3 2013 (p)
More informationRESEARCH AND CONSULTING DEPARTMENT November 2010 REAL ESTATE MARKET MONITORING
RESEARCH AND CONSULTING DEPARTMENT November 2010 REAL ESTATE MARKET MONITORING November 2010 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels
More informationJANUARY 2013 REAL ESTATE MARKET MONITORING
JANUARY 2013 REAL ESTATE MARKET MONITORING January 2013 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels market....... 9 5. Countryside real
More informationRESIDENTIAL MARKET REPORT Saint Petersburg H research HIGHLIGHTS
research H1 2014 HIGHLIGHTS By the end of H1 2014, the average supply price on the new-builds market of prime residential real estate amounted to 10,253 $/sq m. Considering the volatility of US dollar,
More informationOffice real estate market in Moscow
Office real estate market in Moscow 3 Q 2013 Prepared by GVA Sawyer 2013 1 Office real estate market Macroeconomics January August 2013. Russian GDP reached 1,5%. On the basis of the outcome of this year
More informationresidential real estate market Moscow
research 212 residential real estate market Knight Frank HiGHliGHts In 212, the share of apartment projects grew: sales have been opened in six such complexes and only in three residential buildings. In
More informationRESEARCH AND CONSULTING DEPARTMENT July 2010 REAL ESTATE MARKET MONITORING
RESEARCH AND CONSULTING DEPARTMENT July 2010 REAL ESTATE MARKET MONITORING July 2010 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels market.......
More informationFOR SALE $350,000 $300,000
MEDICAL OFFICE CONDO 4123 UNIVERSITY BLVD. S, UNIT E JACKSONVILLE, FL 32216 FEATURES GREAT LOCATION CONVENIENTLY LOCATED ON UNIVERSITY BOULEVARD IN CLOSE PROXIMITY TO MEMORIAL HOSPITAL +/- 1,842 SQ. FT.
More informationCZECH REPUBLIC RESEARCH & FORECAST REPORT Q Accelerating success.
CZECH REPUBLIC RESEARCH & FORECAST REPORT Accelerating success. RESEARCH & FORECAST REPORT CZECH REPUBLIC PRAGUE OFFICE PROPERTY MARKET SUPPLY METRIC KEY OFFICE FIGURES MEASURE Total Stock 2,773,296 m
More informationThe Upstate, South Carolina
The Upstate, South Carolina Vacancy Down and Absorption Up The first quarter of 2018 ended on a rather remarkable note, posting the largest decrease in industrial vacancy in the last eight quarters. This
More informationHOUSING AND PROPERTY MARKET IN LITHUANIA CONTENTS
HOUSING AND PROPERTY MARKET IN LITHUANIA Kęstutis Sabaliauskas, Director General State Enterprise Centre of Registers, Lithuania Kestutis.Sabaliauskas@registrucentras.lt CONTENTS Legal environment Real
More informationCOMMERCIAL RESEARCH BANGKOK OFFICE
MARKET OVERVIEW Q2 2018 HIGHLIGHTS During Q2 2018, the total occupied spaces of the office market in Bangkok reached 4,603,875 square metres. As of June 2018, Bangkok s overall occupancy rate was recorded
More informationKey Market Indicators. Supply. Total Stock 2.88 million sq m Vacancy rate 8.7% Class А 1.13 million sq m Class В 1.75 million sq m
thousand Key Market Indicators Total Stock 2.88 million Vacancy rate 8.7% Class А 1.13 million Class В 1.75 million Completions volume 2017 116,100 Class А 6.3%, Class В 10.3% Weighted average rental rate,
More informationOVERALL MARKET ACTIVITY PROPERTIES TRACKED TOTAL
MARKET SUMMARY The latest GDP data shows that the Canadian economy continues to slow, and despite the NAFTA/USMCA renegotiations effectively behind us, there remains a tremendous amount of economic and
More information>> 2016 Off to A Good Start for Tri-Cities
Research & Forecast Report TRI-CITIES OFFICE Q1 216 Accelerating success. >> 216 Off to A Good Start for Tri-Cities Key Takeaways > The Tri-Cities office market saw vacancy decline for the seventh consecutive
More informationBüromarktüberblick. Market Overview. Big 7 3rd quarter
Büromarktüberblick Office Market Overview Big 7 3rd quarter Deutschland Gesamtjahr 2017 2016 Erschieneninim Published October April 2017 2017 Will the office lettings market achieve a new record volume?
More informationSUBURBAN MARYLAND IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy p.2. Leasing Activity p.3. Development Pipeline p.
RESEARCH MARKET REPORT SUBURBAN MARYLAND OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 Two Massive Deals Highlight
More informationSacramento Office MarketView Q3 2014
Sacramento Office MarketView Q3 2014 CBRE Global Research and Consulting UNEMPLOYMENT RATE 7.0% VACANCY RATE 19.4% NET ABSORPTION 123,907 sq. ft. AVG ASKING LEASE RATE $1.69 per sq. ft. FSG COMPLETED CONSTRUCTION
More informationPharma leasing boosts market, net absorption soars
MARKETVIEW New Jersey Office, Q3 218 Pharma leasing boosts market, net absorption soars Leasing Activity 1.77 MSF Net Absorption Availability Rate 997,93 SF Average Asking Lease Rate 2.5% $26.34 PSF *Arrows
More informationNovember 2009 REAL ESTATE MARKET MONITORING
November 2009 REAL ESTATE MARKET MONITORING November 2009 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels market....... 9 5. Countryside real
More informationConstruction Investment Cools In Lead Up To General Election
Phnom Penh, Q2 218 Construction Investment Cools In Lead Up To General Election Average High-end Condominium Price $3,211/SQM Prime Condominium Rent $14.3/SQM Prime Office Rent $25.5/SQM Prime Retail Mall
More informationEconomy. Office Q3 2018
Economy In the third quarter of 2018, the electoral race caused strong oscillations in the dollar market and in the stock exchange. Specialists believe that once the political result is decided, these
More informationPRIME RESIDENTIAL MARKET REPORT Saint Petersburg
RESEARCH Q3 2014 Saint Petersburg EXECUTIVE SUMMARY In Q3 2014, fluctuations in prices for prime units in the new-builds market for residential real estate were negligible, and the average price of supply
More informationLeasing strength concentrated in new assets
MARKETVIEW Midtown Manhattan Office, Q4 216 Leasing strength concentrated in new assets Leasing Activity 4.25 MSF Net Absorption.62 MSF Availability Rate 11.8% Vacancy Rate 7.9% Average Asking Rent $8.18
More information1July 2018 Region. Research & Forecast Report Colliers International SOFIA OFFICE MARKET OVERVIEW H1 2018
SOFIA OFFICE MARKET OVERVIEW 1July 2018 Region Research & Forecast Report Colliers International H1 2018 2 SOFIA 19% 13% 22% 27% 59% 60% HIGHLIGHTS Class A Class B For more information: www.officemap.bg
More information2Q 17. Office Market Report
2Q 17 Office Market Report Low vacancy rates and steady rental rates characterize the Portland office market Portland s office market has reached a level of strength not seen since the great recession.
More informationresidential market report Saint Petersburg q research HiGHliGHts
research q1 2014 HiGHliGHts By the end of Q1 2014, the average price on the new-builds market of prime real estate was 10,248 $/sq m. Considering the volatility of the dollar over the period, this value
More informationRESIDENTIAL MARKET REPORT St. Petersburg
RESEARCH Q3 2013 HIGHLIGHTS In Q3 2013, the prime residential property market was highly active: sales started at three new sites, delivery of promising projects in the historic part of the city was announced.
More informationECONOMIC CURRENTS. Vol. 5 Issue 2 SOUTH FLORIDA ECONOMIC QUARTERLY. Key Findings, 2 nd Quarter, 2015
ECONOMIC CURRENTS THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY Economic Currents provides an overview of the South Florida regional economy. The report presents current employment, economic and real
More informationQuarterly Market Briefing Vietnam Q4/2016
Savills Research - Subscription form Savills Market Research Vietnam Quarterly Market Briefing Vietnam Q4/2016 Macro Indicators Value YoY Growth Rate (%) GDP growth rate (%) 6.2% -0.5ppt Retail sales (Billion
More informationRESEARCH AND CONSULTING DEPARTMENT. June 2011 REAL ESTATE MARKET MONITORING
RESEARCH AND CONSULTING DEPARTMENT June 2011 REAL ESTATE MARKET MONITORING June 2011 Content 1. Residential real estate market...... 3 2. Office market....... 5 3. Retail market.... 7 4. Hotels market.......
More informationSistema s Real Estate Assets Creation of Value
Sistema s Real Estate Assets Creation of Value Moscow, March 2017 SISTEMA: LEVERAGING OPPORTUNITIES FOR VALUE CREATION IN REAL ESTATE STRATEGY Investment and industry expertise Selection of projects with
More informationQ Cape Town Office Market Report. In association with Baker Street Properties
Cape Town Office Market Report 217 set for rental growth as economy improves, but the city continues to struggle to cater to large occupiers Q4 216 In association with Baker Street Properties 1 Central
More informationQ compared to Q from expert s point of view OVERVIEW
CBRE MarketView Office Market Hamburg www.cbre.de Q4 211 OVERVIEW Q4 211 compared to Q3 11 Q4 1 Take-up Vacancy Prime rent Prime yield Completions Q4 211 from expert s point of view Heiko Fischer, Head
More information>> South Bay Continues Momentum To Start 2017
Research & Forecast Report South Bay OFFICE Q1 2017 Accelerating success. >> South Bay Continues Momentum To Start 2017 Key Takeaways > Although leasing velocity dropped from 2016, demand from that period
More informationMARKET UDPATE H THAMES VALLEY & WEST LONDON
MARKET UDPATE H1 218 & WEST LONDON MARKET UPDATE Q2 218 & WEST LONDON Following a strong first quarter, take up in the Thames Valley fell below the long term half year average due to a slower second quarter
More informationREAL ESTATE MARKET OF TASHKENT CITY: SEPTEMBER, 2011 RESULTS. Summary of AVEX residential real estate indices
Analytical Center «Avesta Research» 36 Navoi str., Tashkent city, Uzbekistan Tel./Fax: 244-33-63 E-mail: info@research.uz Internet: www.research.uz INDUSTRY REVIEW REAL ESTATE October 11, 2011 REAL ESTATE
More informationOffice market Saint Petersburg Q research. executive SUmmarY. The quality office property market shows stability.
research Q3 Office market Saint Petersburg executive SUmmarY The quality office property market shows stability. In Q3, the offering of quality office property increased by 1%. ccording to official data,
More informationLSR Group Reports Operating Results for the First Half of 2016
14 July 2016 PRESS RELEASE St. Petersburg LSR Group Reports Operating Results for the First Half of 2016 LSR Group (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials
More informationToronto Central strengthens its position as market with lowest office vacancy in North America
MARKETVIEW Toronto Office MarketView, Q3 2016 Toronto Central strengthens its position as market with lowest office vacancy in North America GTA Vacancy Rate 9.1% GTA Asking Net Rental Rate $17.72 PSF
More informationProposed Acquisition of an Indirect Interest in One Raffles Place. 10 June 2015
Proposed Acquisition of an Indirect Interest in One Raffles Place 10 June 2015 Disclaimer This presentation should be read in conjunction with the announcement on the proposed acquisition of an indirect
More informationProperty. Mashreq. Economic Overview. Wealth Gauge.
Economic Overview The UAE economy has registered a growth of 5.2 in 2013. In spite of the dip in Oil prices globally the economy is expected to have registered a GDP growth between 4.7-4.8 in 2014. The
More informationCORPORATE MARKET MORE FAVORABLE FOR TENANT IN 2013
4th QUARTER 213 OFFICE São paulo MARKET REPORT OFFICE CLASSES A+, A AND B OFFICE MARKET REPORT CORPORATE MARKET MORE FAVORABLE FOR TENANT IN 213 Existing Inventory: 3.95 million sqm Under Construction
More informationOFFICE AND RETAIL MARKET REPORT
Quarterly Market Report Q3: 2017 broll.com OFFICE AND RETAIL MARKET REPORT RESEARCHERS Nnenna Alintah Opuda Sekibo Amaka Ajaegbu RESEARCH Nnenna Alintah E: research@broll.com.ng COMMERCIAL BROKERAGE Babafenwa
More informationThe Office Market Feels The Heat in Q2
Research & Forecast Report RENO OFFICE Q2 2017 The Office Market Feels The Heat in Q2 >>All major office submarkets have decreased vacancy and positive absorption this quarter >>The overall vacancy decreased
More informationDemand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space
MARKETVIEW Toronto Industrial, Q3 2015 Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space New Supply 3.0 million sq. ft. Under Construction 8.7 million
More informationThe Impact of Market Rate Vacancy Increases Eight-Year Report
The Impact of Market Rate Vacancy Increases Eight-Year Report January 1, 1999 - December 31, 2006 Santa Monica Rent Control Board March 2007 TABLE OF CONTENTS Summary 1 Units Rented at Market Rates Rates
More informationOverview of the German office locations... 5
CONTENTS OFFICE MARKET GERMANY 2016 CONTENTS Executive summary... 3 Overview of the German office locations... 5 Office investment... 10 Berlin... 12 Cologne... 16 Düsseldorf... 20 Essen... 24 Frankfurt...
More informationThe Corcoran Report 3Q17 MANHATTAN
The Corcoran Report 3Q17 MANHATTAN Contents Third Quarter 2017 4/7 12/23 3 Overview 8 9 10 Market Wide 11 Luxury 24 4 Sales / Days on Market 5 Inventory / Months of Supply 6 7 Market Share Resale Co-ops
More informationEconomy. Denmark Market Report Q Weak economic growth. Annual real GDP growth
Denmark Market Report Q 1 Economy Weak economic growth In 13, the economic growth in Denmark ended with a modest growth of. % after a weak fourth quarter with a decrease in the activity. So Denmark is
More informationEconomic and Market Outlook: SAN ANTONIO OFFICE Q1 2016
Economic and Market Outlook: HOUSTON SAN ANTONIO AUSTIN Table 1. Key market indicators for Q1 2016, and their percent (%) change on a quarter-over-quarter (QoQ) and year-over-year (YoY) basis (Class A
More information