A record volume of offices sold in Moscow for 15 years!
Publication date: 17.01.2024
In the office real estate market, the volume of purchase and sale transactions amounted to 415 thousand square meters. m in 2023, which doubled the result of 2022 and became a record figure over the past 15 years.
Analysts note an increase in transactions with small office premises (up to 1 thousand square meters). The total volume of such transactions at the end of last year amounted to 116 thousand sq. m. m, which was a record figure for the segment. “The growth of retail in offices is explained by two factors: the increased popularity of offices as investment instruments, as well as the release of affordable new supply in small pieces,” experts noted.
The volume of transactions with offices with an area of more than 1 thousand square meters. m amounted to 299 thousand square meters. m (72%). At the same time, in the overall structure of purchase and sale transactions, about 38% were large transactions of more than 10 thousand square meters. m, which were closed to a greater extent by companies with state participation (112 thousand sq. m). Among the major transactions of the past year, analysts name the purchase of the iCity tower with an area of 47 thousand square meters. m by the Moscow government, as well as the purchase by VK of the SkyLight office with an area of more than 30 thousand square meters. m.
The first place in terms of transaction volume was taken by companies operating in the IT and telecom sectors (29%). In second place are companies from the public sector (24%), in third place are those from the construction sector (13%).
At the end of last year, experts predicted an increase in office rental prices in Moscow in 2024. According to their estimates, about 1 million square meters are planned to be commissioned in the capital over the next two years. m in high-class offices, but only a part of this volume will enter the rental market, which in turn will put pressure on prices.
No comments yet
Please log in to leave a comment.