In Q2 2020, the volume of newly commissioned office space increased by 5,100 sq m within two class B office buildings. A similar record low level of supply was seen in the same period in 2018 (2,300 sq m) and especially in 2017 when no business centre was commissioned in Q2. The total volume of commissioning in the first half of the year amounted 60,900 sq m, which is two times lower than in the same period of the previous year.
The downward trend in the vacancy rate in Q2 2020 was corrected by moderate increases – the vacancy rate in class A buildings increased by 0.8 p.p., while for class B+/- buildings the increase was 0.5 p.p.
In Q2 2020, the transaction volume amounted to 256,200 sq m of office space. The total figure for the first half of the year reached 514,400 sq m, a decrease of 23% compared to the same period in 2019.
Commercial conditions for previously available premises have not changed. However, space that has entered the market after optimization by some companies has contributed to a supply structure change, as a result of which the weighted average rental rate increased by 3% over the quarter, which is comparable to the rental rate at the end of 2019.