Seasonal stagnation in the long-term rental market in Russia, which started in May with the expectation of the arrival of summer, caused a slight decline in prices. In this respect writer Kommersant refers to market participants.
The average cost of renting a one-room apartment in the 18 largest regional markets of Russia (more than 16 million cities, Moscow and Leningrad regions) in May amounted to 21.3 thousand rubles. Two-room apartments will cost 31.4 thousand rubles per month. Compared to April, prices decreased by 0.5% and 0.9%, respectively.
Market experts agree that demand for rental housing has declined by 12% over the past few weeks, a standard seasonal trend. Despite the increased mobility of tenants compared to the same period in 2022, most are not willing to pay more.
Analysts have always thought that summer is a fairly quiet period in the rental market. Therefore, there will be no significant price changes during this period. At the same time, an increase in activity will only be observed until August, before the start of the traditional high autumn season.
Kommersant newspaper at the end of April WroteThe long-term rental market in Russia has gradually started to recover, with rates increasing in most major cities over the course of the month.