In its Global Market Perspective report for Q315, Jones Lang LaSalle (JLL) notes that the notional capital values of prime office buildings in Moscow have risen/fallen by 34.5% over the last year. The prime yield is 10.5%, or a 0.58% discount to the yield on 10-year government bonds. Over the last year, rents have fallen by 23.6% and net absorption (on a rolling one year basis) has been 4.0%. The vacancy rate is currently 17.0%. Taking into account completions of new projects prior to the end of 2016, the supply pipeline is 8.0% of current stock. JLL considers that conditions will likely favour tenants in 2016.

Source : November 2015/JLL/Moscow/OFF