Experts pointed to the shortage of high-quality office space in Moscow

More than 3 million square meters will be commissioned in Moscow in the next three years. There are m new offices, but only 13% of them are intended for rental. Against the background of steady demand, rental rates continue to rise, and the structural bias towards sales is becoming more and more obvious, according to a joint study by the Skolkovo Park business district and the NF Group consulting company. The results were reviewed by Izvestia on May 28.

On average, the annual commissioning of rental space in the next three years will not exceed 150-160 thousand square meters, analysts predicted. This is four to five times lower than the current demand level: over the past year, the volume of new lease transactions has exceeded 700 thousand square meters. m.

"Given the shortage of office space for rent and continued demand in the market, as well as the fact that many facilities are already fully or partially completed, the requested rental rates will continue to rise. We are seeing vacancy rates close to historical lows, and an increasing interest in flexible office solutions and pre—booking space in projects under construction," said Maria Zimina, partner at NF Group.

In addition, according to her, some tenants may consider offices in areas outside traditional business clusters if high-quality space in the center becomes unavailable or too expensive.

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The demand for such commercial premises has more than doubled in a year.

Given the limited supply on the Class A rental market, interest in new facilities is formed long before they are commissioned, added Elena Malinovskaya, Rental Director of the Skolkovo Park business district.

"Working out a deal a year before entry is no longer a recommendation, but a necessity and a new trend caused by a shortage of quality supply: there are no more "quick fixes" on the market. In addition, tenants themselves have become more discerning: the requirements for environmental friendliness, adaptability, infrastructure and sustainability of the business environment have increased. For developers, this is a signal that those projects that offer not just square footage, but a comfortable environment and service will win," she said.

The office rental market is moving into a stage of structural deficit. Most of the new construction for the next three years is focused on hosting its own headquarters and built-to-suit formats that do not participate in the open market, as well as for sale. Therefore, with the growth of development activity, the volume of new offers available for rent is increasingly lagging behind the real needs of the business, experts noted.

Earlier, on May 23, it was reported that the vacancy rate in class A office buildings in the Moscow International business center "Moscow City" reached a historic low of 1.9% in the first quarter of 2025, excluding secondary supply from investors. At the same time, the average office rental rate increased to a record 65.6 thousand rubles per 1 square meter, according to NF Group data.