The low demand for long-term rental flats in Moscow caused real estate agent commissions to fall by 30-50% of the monthly rental price. About author Kommersant refers to market participants.
“The commission for long-term rental housing services of real estate agents in Moscow has been reduced from 100% to 50-70% of the monthly payment. “Such a trend is typical only for the Moscow market so far,” said Olga Pavlinova, head of the residential and commercial real estate rental department at Etazhi.
Market participants agreed that previously the commission amounted to 100% of the monthly hiring cost, but now it is no more than 50-60%. In addition, due to the conditions, the competition between real estate agents is increasing seriously. At the same time, this situation is observed not only in Moscow, but also in other major cities.
Analysts think that offers from owners who rent out flats in the market are starting to increase. Moreover, this situation is typical in the event of a crisis in the market. In addition, those who will leave the country are trying to rent housing without an intermediary. However, the situation has not changed much for residences in the higher price segment.
December 8 market experts declarationthat the demand for rental housing in Moscow has fallen sharply due to difficult geopolitical events in the world and will not return until at least the spring of 2023.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.