• New office supply in Moscow amounted to 55,795 sq m in Q1 2020, more than double the 27,500 sq m completed in Q1 2019 
  • Overall vacancy increased by 0.3 p.p. to 9.4% in Q1 2020 against 9.1% in Q4 2019. However, this figure was 2 p.p. lower compared to the 11.4% recorded at the end of Q1 2019.
  • Office take-up amounted to 357,200 sq m in Q1 2020, an increase of 48% on the 240,600 sq m recorded in Q1 2019 and just 1% below the ten-year high of 361,100 sq m registered in Q1 2018.
  • Office leasing and purchasing activity was robust at the beginning of the year but the impact of measures to control the spread of COVID-19 weighed on market activity from mid-March.