ERA CAPITAL
RESEARCH BRIEF
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Moscow City: tight supply, larger deals

The September 2026 office indicators highlight limited availability in the established Moscow City cluster.

Moscow City: tight supply, larger deals
1.8%Vacancy in the established cluster
RUB 77,300Weighted annual rent per sq m

Availability stays constrained

The established part of Moscow City remains one of the capital’s tightest office locations. Little development land remains there, with only limited office-land availability in the expanding cluster.

Activity over a longer horizon

Transaction volume between 2022 and the first half of 2026 was comparable with the 2018–2021 period. Average deal size increased by 7%, indicating fewer but larger commitments.

The development picture

The report reviews rental and vacancy indicators alongside the development pipeline and major headquarters transactions. Its figures relate to the defined Moscow City market rather than the capital’s entire office stock.

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