Statistics and forecasts

Office real estate market

According to the results of 3Q 2010 the aggregate supply of quality office spaces (class A and B+/B-) has amounted to 11 million sq m.
In 3Q 2010 there were commissioned 213.3 thousand sq.m. of office spaces. The trends of 2010 (a slight growth of rent rates, “defrosting” of the projects and increase in demand) will continue in the short-term outlook.

Retail real estate market

The share of vacant premises is still high (11%), primarily due to the large supply volume within the analyzed period. However, according to GVA Sawyer, the vacancy rate shall fall to 5-7% by 2011-2012. However, according to the Federal State Statistics Service, the post-crisis recovery of consumer confidence, which was observed from Q2 2009, has now finished. In Q3 2010, the index fell by 4 percentage points to (-11%).

Hotel real estate market

The market shows signs of recovery of demand for hotel accommodation as well as for additional hotel services (catering, conference services, etc.). Also there is a trend of demand redistribution from low-end hotels to the high-end segment.
The cost of accommodation in Moscow hotels, in contrast to European indices, continues to decline due to its overrating during pre-crisis period.

Residential real estate market

The first quarter of 2010 is characterized by the first signs of market recovery. The prices in residential real estate market show a small growth. This is connected with seasonal factors and market recovery as a whole. Besides, mortgage deals have their positive influence on the demand dynamics.