Offices will sit for a penny

Nedvizhimost04-08-2009 Offices will sit for a penny In a crisis people living in Moscow with bated breath waiting for lower property prices and rental rates. But they waited for him, perhaps, only in a segment of office rental. Moreover, experts believe further fall rates in this market. Rent for office space may descend to the level of operating costs. True, such a scenario is possible in a protracted recession in the country. Office market will continue to drop and rolled on its main indicators on the level of 2003. Such a forecast made by experts of companies "Neocon" and Panorama Estate. It was in 2003, told Bigness.ru analysts, Russia's economy began to form a so-called bubble in the office market in Moscow. The expansion of this bubble sustained growth in demand and increased supply of offices. In a crisis, the bubble began to deflate - as a consequence, began a sharp decline in demand for office properties. The fact that the office market will decline further, experts have no doubt, and give rise to two possible scenarios for future market development. In the first scenario, the market will decline slightly below the baseline, which is the third quarter of 2003.