Analysts spoke about the decline in the construction of offices in Moscow

During the year, the volume of new office space in Moscow decreased 15 times: from 329 thousand square meters in the first half of 2024 to 22 thousand square meters in the same period in 2025. This was reported to Izvestia on July 3 by the consulting company CORE.XP.

According to the company's analysts, in the second quarter of 2025, only 18 thousand square meters of new space appeared on the metropolitan office market. Thus, in the first six months of this year, the volume of new construction amounted to only 22 thousand square meters. m — three class B+ offices.

For comparison, in the first half of 2024, seven business centers with a total area of 329 thousand square meters were built in the capital.

"The deadlines for the completion of 360 thousand square meters of office space, planned for the second quarter of 2025, have been postponed to the second half of the year. And although developers announce plans to introduce 1.4 million square meters of office space by the end of the year, we believe that about 1 million square meters can actually be completed," explained Senior Director, head of the Office Real Estate Department at CORE.XP by Inina Khoroshilova.

Square footage: mini-offices are being bought up en masse in Russia

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

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.