In 2023, rental prices across major markets showed a noticeable rise. The report from Kommersant highlights a trend that grabbed attention in the housing sector.
Specifically, the cost to rent a one-bedroom apartment climbed by 25.4 percent, while two-bedroom rentals advanced by 24 percent. The analysis focused on 16 cities with populations exceeding one million, including the Moscow and Leningrad regions, underscoring a concentrated surge in large urban centers.
Observers point to several factors driving this uptick. A persistent undersupply of available housing in the face of strong demand from residents relocating to large cities, a wave of people returning to settled areas, and the continued influence of tourism development on the rental market are cited as key pressures. The outlook suggests this momentum could persist, at least in the near term.
Analysts from the Etazhi group project that, by the end of December 2023, the average monthly rent for a one-bedroom unit in major cities would be around 25.2 thousand rubles, with two-bedroom rentals near 30.6 thousand rubles. Another data set from Blue. Analysts indicates even higher figures, with approximately 27 thousand rubles per month for a one-bedroom and about 39.5 thousand rubles for a two-bedroom unit.
Beyond the big hubs, rental price increases appeared across multiple regions, signaling a broader market shift. For example, some cities saw price gains approaching 50 percent in Perm and Chelyabinsk, and increases near 32 percent in Novosibirsk over the year. These regional jumps emphasize that the rent volatility is not confined to the largest metropolitan areas.
Industry voices have suggested that the rise reflects structural dynamics rather than a temporary spike. The scarcity of available rental units, coupled with sustained demand and evolving migration patterns, appears to be shaping a market where values are becoming less predictable and more influenced by local supply constraints.
In this context, market participants are closely watching how seasonal factors, tourism flows, and urban development plans will interact with ongoing housing construction, resettlement programs, and policy responses. The evolving landscape points to a rental sector that may continue to harden in some locales while stabilizing in others as new supply comes online.
Analysts also emphasize the importance of regional diversity. While the national narrative often centers on Moscow and surrounding areas, other large cities are contributing to the overall trend, illustrating a mosaic of pricing behavior driven by local conditions, economic activity, and housing market fundamentals.
Overall, the 2023 data indicate a market entering a new phase where supply constraints, migration patterns, and tourism-related demand converge to shape longer-term rent levels. Stakeholders—from prospective tenants to developers and policymakers—are urged to assess local market signals, balancing affordability with the need for renewed housing stock that can accommodate population growth and changing living preferences.