Investor's Choice in Moscow

The Moscow real estate market in 2026 offers investors several options. Traditional residential projects and the office segment, each with a different approach to generating returns. The choice depends on your goals: for some, predictability is more important; for others, growth potential is key. Let’s examine two investment formats using examples.

Commercial real estate has become a growth driver in 2026. The shortage of high-quality office space has reached a historic low: a 4–6% vacancy rate in business districts. Rental rates rose by 41–53% over the year. Construction costs have increased by 1.5 times since 2022: from 140,000 to 215,000 ₽/m².

Project Case Study from STONE

Purchased in 2020 at launch for 38.1 million ₽. After completion, the price rose to 77.7 million ₽. Over four years, the investor earned 39.5 million ₽, or 103.7%. 

When choosing residential real estate, you need to consider a combination of factors: the layout’s marketability, your target audience profile, the project’s club infrastructure, and the neighborhood’s development plan. You also need to clearly determine for yourself whether the apartment is intended for rental, subsequent resale, or as a means of preserving capital against inflation. These factors influence the final choice of the residential complex and the specific unit.

Whitewill Case Studies

— In 2025, they purchased a residence in "Slava" Residential Complex for 78 million ₽. Today, the property is valued at 100 million ₽. Over the course of a year, the client earned 22 million ₽, or 28%.

— In 2024, they purchased an apartment in the “Tishinsky Boulevard” for 190 million rubles. The current value of the property in 2026 is 265 million rubles. Over two years, the apartment’s value increased by nearly 40%.

Which option should you choose?

A completed office building is your bet on scarcity and rising rental rates. High returns, but it requires more initial capital.

A residential project in its early stages is a straightforward investment vehicle with high liquidity. Lower risk, faster entry and exit, but potential returns are slightly lower compared to commercial real estate. Your final decision depends on your strategy and investment horizon.