Housing rental prices in Russia began to decline. Thus, rental prices for one-bedroom flats fell by 10-15% on average throughout the year. In this respect writer The newspaper Izvestia cites the opinions of market experts.
According to Yana Glazunova, General Manager of VSN Realty, rental prices for apartments in large cities have fallen by 10-15% due to a decrease in demand and an increase in supply. Other market participants are 13% of the rental price of “odnushki” in Moscow, St. He confirmed the decrease in rental rates, noting that in St. Petersburg by 14-15%, and in Samara – 8.6%.
Market experts pointed out what hits the elite segment the most, where there is a significant drop in reserves. In addition, the rates of such housing in some places fell by 1.5-2 times. All this happens due to the fact that many apartments purchased during the pandemic are now entering the market, so the volume of supply turned out to be noticeably higher than demand. Some experts consider that another reason for the price reduction, especially for “odnushki”, is the decreased interest in one-room apartments.
Analysts think the market is now experiencing a traditional pre-dropout calm. In August, demand for housing will start to rise again, and rental rates will not only improve in price, but may even increase by another 5-10%.
21 May Kommersant newspaper WroteWith the expectation of the arrival of the summer season in the long-term rental market in Russia, the start of seasonal stagnation in May caused a slight decline in prices.
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.