29.08.2025
For the first time in nine years, rental rates have decreased in the Moscow warehouse market
In the Moscow region, according to the results of the second quarter of 2025, the weighted average requested rental rate for existing dry storage facilities of class A was 11.5 thousand rubles per year per square meter. Stroygazeta was informed about this by the IBC Real Estate press service, specifying that rates decreased by 12% compared to the first quarter of 2024 and amounted to 13 thousand rubles per year per square meter.
The press service noted that the main reasons for the adjustment of the indicator are a decrease in demand for warehouse space and a sharp increase in the vacancy rate in ready-made facilities.
Experts specify that by the end of the half-year, the amount of purchased and leased warehouse space amounted to 891 thousand square meters, which is 42% lower than in the same period last year. A decrease in demand for warehouse real estate was recorded by all market players. Online operators remain the leaders in terms of transaction volume (35% of the total), multi-channel retailers are in second place (16%), manufacturers account for 15%, logisticians - 13%, distributors – 8%. After the peak values of the previous two years, the indicator is stabilizing.
IBC Real Estate analysts expect that by the end of this year, the volume of transactions will not exceed 2.5 million square meters, having decreased by 20% year-on-year.
In Moscow and the Moscow region, the stabilization of demand for warehouse space was reflected in the vacancy rate. In the first half of 2025, the vacancy rate in existing facilities ready for tenants to move in reached 4.2%. Since the beginning of the year, the indicator has increased by 2.7 percentage points, and in absolute terms, more than 1.4 million square meters are currently vacant on the market. The release of large vacant blocks and an increase in the number of subletting options from key market players is the result of optimizing the use of their own warehouse space by companies that are currently focused on reducing costs and increasing the efficiency of logistics processes. Additionally, 1.9 million square meters are marketed in the facilities under construction, which are scheduled for commissioning by the end of the year. Taking into account this volume of premises planned for commissioning, IBC Real Estate predicts an increase in the indicator to 4.5%.
Evgeny Paperin, Head of the Department for Warehouse and Production Facilities at IBC Real Estate, noted that the warehouse real estate market in the Moscow region is undergoing a period of significant changes – for the first time in the last nine years, rental rates have declined, and the vacancy rate has increased sharply in just six months.
"These trends reflect the general cooling of demand caused by economic factors and optimization of development strategies of key market players. Investors and tenants should prepare for new conditions – the era of rapidly rising rates has been replaced by a period of informed decisions," he concludes.
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