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«    March 2018    »

Experts expect dollar office rental rates to come back in Moscow

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Experts expect dollar office rental rates to come back in Moscow

Dollar rental rates will start to come back to the Moscow market of offices in 2017, the RIA Realty Agency cites the report of the Knight Frank international consulting company. The share of the dollar contracts may make up to 20% in the class A business centres.

Office tenants’ switching over to the rouble rental rate resulted in the growth of expenses by a third in the period of five years due to the rate indexation connected with the index of consumer costs.

"Presently, the tenants start thinking why the rouble rate indexing by 7% every year while the dollar is quite steady, and CPI varies within 1-3%. Owners of business centers are likely to propose dollars for the rental payment for many buildings to let", the company writes in its press release.

90% of the A class office premises and 100% of the B class ones are signed in roubles. Before the crisis, 100% of the A class rental agreements and 50% of the B class ones were concluded in dollars.  

The agreement currency stays dominant while negotiating the rental conditions, experts stress.

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