What offices will businesses be located in in 2026?

The Moscow office real estate market is undergoing changes. Developers are massively delaying project completion dates, which could lead to the peak share of postponed projects by the end of 2026. For several reasons, including the high cost of loans and building materials, developers are changing their model. For example, instead of focusing on leasing, they are shifting to primarily selling space to recoup their investments faster.

The geography of construction is shifting beyond the Moscow Ring Road, where land and tax breaks are easier to obtain. However, tenants are reluctant to leave the confines of old Moscow, despite rising rents in the suburbs (up to 30% for Class A).

Many companies are optimizing costs by abandoning large offices in favor of flexible office space.

According to experts, by the end of 2026, vacancy rates in the capital could reach approximately 7-11%, which will inevitably slow rental rate growth.