Rental rates have risen sharply in eight million-residential cities
Average rental rates for apartments in some cities with a million inhabitants showed record growth over the past month, according to the federal company "Etazhi".
Among million-strong cities Kazan (+7.4%) is on the first place in terms of growth of average rental rates for one-room apartments for the past month, St. Petersburg and Perm are on the second place (+7.2%), Krasnoyarsk is on the third place (+6.1%), Omsk is on the fourth place (+5%), and Moscow (+4.9%) rounds off the top five. The leaders in the growth of average rental rates for two-bedroom apartments were Perm (+7.1%), Moscow (+7%), Krasnoyarsk (+6.9%), St. Petersburg (+6.7%) and Kazan (+6.3%).
"Over the past 12 months such a monthly increase in average rental rates has become a record, the shortage of the most budget options of temporary housing, which is usually rented by students, is affecting. Now for these apartments with them compete also those who decided to postpone the purchase of their own apartment because of the reduced availability of mortgage loans or improved living conditions by purchasing a new building at the construction stage of the family mortgage", - said the leading analyst of the federal company "Etazhi" Alexander Ivanov.
According to him, despite the fact that the period of peak seasonal demand has been overcome, the demand for rent remains stable. The situation with rental prices is partially smoothed by the decrease in the rate of sale of secondary housing, because of which some owners began to rent out their apartments in parallel with the search for buyers.
"Owners are trying to minimize maintenance costs of apartments for sale and rent them at a 10-15% discount from the market price. Such objects are in demand among those who are ready to move frequently in order to save on monthly payments", - continues the expert.
Gradual recovery of supply in some of the largest cities of Russia has led to a decrease in average rental rates for one-bedroom apartments: Nizhny Novgorod (-0.9%), Chelyabinsk (-0.8%), Ufa (-0.4%), Volgograd and Rostov-on-Don (-0.3%). Average rental rates for two-room apartments decreased in Chelyabinsk (-0.7%), Omsk (-0.6%) and Ufa (-0.5%).
According to Ivanov, the deficit of budget supply in the rental market will last at least until the end of October, but there are risks that further reduction in mortgage availability may lead to a new wave of demand and further active growth of average rental rates.
Earlier, on September 19, it was reported that a square meter in new buildings in old Moscow rose in price by 17.6% for the year, according to the data of the companies "Metrium" and Regions Development, which were reviewed by "Izvestia". The maximum price growth was recorded in the Southern District (+21.3%), the minimum - in Zelenograd District (+0.8%). According to experts, the average price of 1 sq. m. in August 2024 is 591.7 thousand rubles.
Before that, on September 17, it became known that in Russia in September in all types of housing rental costs increased compared to August. Thus, the increase in median rates of rented studios amounted to 4.7%, one-room apartments - 7.7%, two-room lots - 3.9%, three-room - 2.8%. This follows from the data of the service "Yandex Rent", which were familiarized by "Izvestia".
