Rus News Journal

In Moscow will appear superfluous business - the centres

One of these days the American realtor company Colliers HIB has delivered the report about sit
  In Moscow will appear superfluous business - the centres
One of these days the American realtor company Colliers HIB has delivered the report on a situation in the market of real estate of Moscow. By estimations of analysts, in a year rent rates will fall on 10 - 15 %. Colliers HIB became the first company which has made the forecast of which with fear was waited by all developers. If it appears fair, their hopes of growth of the market of real estate will be buried.

Colliers HIB - affiliated structure of company Colliers International Real Estate entering into ten of the largest realtor companies of the world. By results of last year the total amount of transactions Colliers Internetional has made $870 million Company has 248 offices in 51 country.

Colliers HIB works in Russia seven years, but this year for the first time has published the analytical report on a situation in the market.
according to research, in the second half of the year 1999 tenants had been claimed 49 % of the empty areas. Even more appreciable increase in demand was marked in the first quarter 2000: transactions on 70 thousand in sq. m that on 50 % more than for the similar period of last year are concluded. The basic tenants of a steel of the company of the oil and gas industry, pharmaceutics and manufacturers of consumer goods. For example, the Siberian aluminium rented 4,4 thousand in sq. m in complex Forum II in Nikolojamsky street, and Gillette - 2,3 thousand in sq. m in Plaza - 2 on Paveletsky (what offices prefer to remove the Russian companies, see the diagramme).
Level of rent rates on office premises of class A makes today $570 for sq. m a year in new buildings (including working costs). Offices of class B surrender on $400. According to Colliers HIB, by the end of the year in the market there will be 250 thousand in sq. m svezheotstroennyh office areas. And then demand will start to lag behind the offer considerably. From the second half of the year 2001 when work on new building projects will come to the end, rent rates will start to fall.
however, not all experts divide this point of view. According to analysts of company Jones Lang LaSalle, the tendency of growth of rates will remain till 2002 provided that this year developers will start to realise new projects. The building boom in Moscow which expects Colliers HIB, will not begin until laws on the earth and on protection of foreign investments will be passed.
INGA - ZAMURUEVA