This spring, prime office rents in Moscow are going above $2,000 a square meter, 50 percent higher than rents paid for offices in the "trophy" skyscrapers of midtown Manhattan.
On the supply side, the Moskva-City development marches ahead, hewing to a schedule to bring on line one major building a year until 2015. By then, Moscow, sometimes called the "Manhattan of the East," is to have the 10 tallest office buildings in Europe.
Is Moscow's office market a bubble waiting to pop? The answer is No.
Moscow currently has 7.4 million square meters of modern office space, about the same as Amsterdam. But Moscow has 10.6 million people, compared with Amsterdam's 750,000.
