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Over the past nine months, office rental rates in the Moscow City business center have increased by 49%. This is a record high among Moscow's key business locations. As of April 2025, the average annual rental rate for premium offices is 66,400 rubles per square meter. However, since the end of 2024, there has been a slight decrease of 3.4%, which analysts attribute to a redistribution of demand following the completion of the most expensive properties.
High demand and record low vacancy rates
Moscow City maintains a leading position in the Moscow office real estate market. It accounts for approximately 20% of all Class A and Prime office space in the city. Over 80% of the offices in the Moscow International Business Center (MIBC) itself fall into these premium segments. The vacancy rate remains extremely low—just 0.8%—underscoring the high tenant interest in this area.
Comparison with other districts of Moscow
By comparison, rental rates in the Central Business District increased by only 9% over the same period, reaching 37,900 rubles per square meter per year. In the Leningrad Corridor business zone, the increase was 10%, reaching 42,180 rubles per square meter per year. Rental rate increases for lease renewals range from 15% to 35%, reflecting the limited number of attractive alternatives on the market and companies' desire to retain their current office space.
New objects and market prospects
The Moscow City office real estate market will soon be expanded with the new iCITY complex, which includes two towers: the 257-meter-tall (61-story) Space Tower and the 141-meter-tall (34-story) Time Tower. The opening of the 91,300-square-meter iCITY Space Tower in 2025 will temporarily increase the vacancy rate to 2.4%. However, according to expert forecasts, rental rates will rise again by 2027, reaching 79,000 rubles per square meter per year, a 20% increase from current levels. The demand for this new offering is also demonstrated by the fact that 43% of the office space in the projects under construction has already been reserved by tenants.
Moscow-City strengthens its leadership position
Thus, the Moscow City business district continues to attract companies interested in premium office space. Rising rents confirm sustained interest and a shortage of quality supply, and upcoming projects will ensure the continued development and strengthening of this business center's position.
